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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. ....
SHARE Dubai’s Alcazar Energy, backed by Mubadala Investment Company, is bullish on the growth of the renewables sector in the Middle East and North Africa as demand for clean energy accelerates amid concerns about climate change. “Necessity for affordable energy in these emerging markets is of very large magnitude, Daniel Calderon, co-founder and chief executive of Alcazar Energy, said. That is the exciting part of renewable energy. What we have seen in the last seven years is very small fraction of what we hopefully . stand to see in the next ten years.” Middle Eastern countries like Jordan, which depend on energy imports to meet up to 90 per cent of their requirements, are opting to generate energy through solar to plug demand and lower their spending. The kingdom has launched a number of renewable rounds to tap the private sector in building clean energy capacity. ....
Message : Required fields SINGAPORE (Reuters) -CVC Capital Partners has agreed to buy Myanmar s largest telecom tower company in a deal that sources said was valued at about $700 million and which marks the global buyout firm s first foray into the Southeast Asian country. The sale of privately-held Irrawaddy Green Towers, which has almost 4,000 towers across Myanmar, is the second-largest deal ever involving Myanmar assets. It is the first investment in Myanmar by CVC, one of the world s biggest private equity firms. Sources familiar with the matter said CVC was given exclusivity after it was shortlisted from potential buyers, including regional telecoms groups and other companies. ....
UPDATE 3-CVC buys telecom tower firm in Myanmar's second biggest deal reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.
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Your personal data will not be shared with third parties. Click here to view our privacy policy. 2731 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. ....