Zain KSA signs SAR2.5bn tower sale, leaseback deal
Zain KSA [7030.SE] signed an agreement with IHS Holding (IHS) for the sale and leaseback of passive infrastructure on 8,100 towers, as well as the building of 1,500 towers over the next six years, for SAR2.52bn (up from SAR2.43bn announced previously). The agreement is still subject to customary closing conditions, including the approval of regulatory authorities. The book value of the towers is cSAR2.5bn. (Company disclosure)
Zain KSA: SAR11.08 as of 27 Mar. 2019, Rating: Buy, TP: SAR11.40/share, MCap: USD1,725mn, ZAINKSA AB/7030.SE
This website uses cookies to make the site work, to understand if the site is working well, how it is being used, to connect to social media sites (such as Facebook and Twitter) and to collect information useful to allow us and our partners to provide you with more relevant ads . Some cookies are essential to make the site work, but you can control how we use non-essential cookies at any time by clicking the “ON/OFF” button next to each category. For more information about the cookies used on this site, see Privacy Policy.
Decide which cookies you want to allow.
Strictly Necessary
These cookies are essential in order to enable you to move around our website and use its features, such as accessing secure areas of our website. Without these cookies, any services on our Site you wish to access cannot be provided.
Analytical/performance cookies
Visitors use our website, for instance which pages you go to most often, and if you get error messages from web pages.