Western Balkan Towers

active

The proposed IFC investment consists of up to US$75 million to support Actis GP LLP (“Actis”) (https://www.act.is/) bid to acquire most of the macro tower sites of Telekom Srbija a.d. Beograd (‘TS’ or the “Seller”), (the “Transaction”). The Transaction is subject to clearance by all applicable regulatory and competition authorities and, if cleared, will lead to the establishment of the first independent telecom tower group headquartered in the Western Balkans.The Seller is one of the largest telecom operators in the Western Balkans and is 58% owned by the Republic of Serbia. Prior to the sale, TS will carve out into separate tower companies (“TowerCos”), its towers and passive infrastructure business, comprising 1,827 sites in total, 995 of which are located in Serbia, 725 are in Bosnia & Herzegovina, and 107 are in Montenegro. IFC and other private and institutional investors will invest equity in an investment vehicle that will be established and managed by Actis. The investment vehicle will own 100% of the TowerCos’s shares. TS and its subsidiaries will be the TowerCos's anchor tenants under long-term master service agreements and have also committed to lease additional towers from the TowerCos under a build-to-suit program to be implemented over the next 4 to 6 years depending on the jurisdiction.