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Private investment company CVC Capital Partners struck a deal to acquire Myanmar’s infrastructure firm Irrawaddy Green Towers for $700 million, fighting off a number of other interested parties.
Reuters reported, the buyout marks the investment company’s debut into the Southeast Asian country and gained it almost 4,000 towers across Myanmar, which is apparently the second-largest deal ever for Myanmar assets.
International investor scoops Myanmar tower company - Mobile World Live 11 DEC 2020
Private equity company CVC Capital Partners struck a deal to acquire Myanmar mobile infrastructure provider Irrawaddy Green Towers for $700 million,
Reuters reported, fighting off competition from a number of other suitors.
The news website’s sources noted a number of players including some from Southeast Asia’s communications sector had been provisionally interested in buying the business, but CVC was apparently given preferential status on completing a deal.
Moves to sell the business were reportely underway for more than a year: in May
Bloomberg reported the shortlist of potential buyers also included Axiata Group and China-based infrastructure company Guodong Group. At that point, closed bids were being invited from interested parties.
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