Economic Reporter :
edotco Group Sdn Bhd (“edotco”) through, edotco Pakistan (Private) Limited, announced it has entered into an agreement with Tower Share (Private) Limited (“TS PK”) to acquire 100percent of its subsidiary, Tanzanite Tower Private Limited (“TTPL”).
The acquisition is an important strategic development to edotco’s existing operations in Pakistan and allows edotco to expand its presence in Pakistan with a sizeable portfolio of approximately 700 towers providing tenancies to all major mobile operators in the country. This opportunity is in line with edotco’s plans to scale up its Pakistan operations and makes it the largest independent tower company in the country. This puts edotco in a strong position to accelerate its tower build out and take advantage of further acquisition and consolidation opportunities. The transaction values TTPL at an enterprise value of USD90 million, said a press release.
edotco Chairman, Datuk Azzat Kamaludin stated, “I am very pleased with the continuous progress and milestones edotco is making in its business growth and presence in the region. The Board is confident that this acquisition will bring positive financial returns to the Group. edotco’s growth in both its business strength and financial performance has been remarkable, allowing it to self-fund its growth and expansion strategies. Today, its expansion into Pakistan will further strengthen edotco’s position as a leading independent tower company in Asia.”
Suresh Sidhu, CEO of edotco, said: “This acquisition supports edotco’s growth strategy and ambition to position itself as the leading independent telecommunications infrastructure services provider across Asia. It also demonstrates our continued confidence in the Pakistan market and long-term commitment to support the development and enhancement of the country’s telecommunications infrastructure.”
Incorporated in 2008 and headquartered in Islamabad, TS PK is a wholly-owned subsidiary of Towershare Inc., a leading regional independent owner and operator of wireless communications infrastructure focusing primarily in the Middle East, North Africa and South Asia (or MENASA markets).
edotco Group Sdn Bhd (“edotco”) through, edotco Pakistan (Private) Limited, announced it has entered into an agreement with Tower Share (Private) Limited (“TS PK”) to acquire 100percent of its subsidiary, Tanzanite Tower Private Limited (“TTPL”).
The acquisition is an important strategic development to edotco’s existing operations in Pakistan and allows edotco to expand its presence in Pakistan with a sizeable portfolio of approximately 700 towers providing tenancies to all major mobile operators in the country. This opportunity is in line with edotco’s plans to scale up its Pakistan operations and makes it the largest independent tower company in the country. This puts edotco in a strong position to accelerate its tower build out and take advantage of further acquisition and consolidation opportunities. The transaction values TTPL at an enterprise value of USD90 million, said a press release.
edotco Chairman, Datuk Azzat Kamaludin stated, “I am very pleased with the continuous progress and milestones edotco is making in its business growth and presence in the region. The Board is confident that this acquisition will bring positive financial returns to the Group. edotco’s growth in both its business strength and financial performance has been remarkable, allowing it to self-fund its growth and expansion strategies. Today, its expansion into Pakistan will further strengthen edotco’s position as a leading independent tower company in Asia.”
Suresh Sidhu, CEO of edotco, said: “This acquisition supports edotco’s growth strategy and ambition to position itself as the leading independent telecommunications infrastructure services provider across Asia. It also demonstrates our continued confidence in the Pakistan market and long-term commitment to support the development and enhancement of the country’s telecommunications infrastructure.”
Incorporated in 2008 and headquartered in Islamabad, TS PK is a wholly-owned subsidiary of Towershare Inc., a leading regional independent owner and operator of wireless communications infrastructure focusing primarily in the Middle East, North Africa and South Asia (or MENASA markets).
