Dubai s Blu Stone JV completes strategic Myanmar asset sale
DUBAI, January 4, 2021 Dubai-based Blu Stone Management and its joint venture partner M1 Group, a holding company that owns and manages investments across various sectors, have reached an agreement to sell its entity Irrawaddy Towers Asset Holding to CVC Capital Partners Asia V (CVC). Irrawaddy Towers owns a leading independent telecommunications tower company in Myanmar, Irrawaddy Green Towers Limited (IGT). It serves all four mobile network operators (Telenor, MPT, Ooredoo and Mytel) in the Asian country with both tower and power solution services. Irrawaddy Towers Asset Holding Chairman Georges Makhoul said: Since the day we established IGT, it has been a privilege to work with the Myanmar community to facilitate the delivery of mobile services across the whole country.