Wendel Supports MTN's Acquisition of IHS Towers for $535m Liquidity

Wendel, a prominent investment firm, has announced its backing of MTN Group's offer to acquire IHS Holding Limited. The proposal, valued at $8.5 per share, provides a 36% premium over the 52-week average price. This transaction allows Wendel to gain full liquidity on its 19% stake in IHS, amounting to approximately $535 million, a 21% premium over its latest Net Asset Value.

Completion of this deal is contingent upon approvals from IHS shareholders and relevant regulatory bodies. Found in 2001, IHS Towers manages over 37,000 towers across seven countries, making it one of the leading independent infrastructure entities in emerging markets.

Wendel, a stalwart investor since 2012, sees this sale as a stride towards focusing investments on unlisted companies in Europe and North America. This aligns with its value creation strategy, including the recent sale of its interest in Stahl and continued investments in private assets.