Airtel Africa Plc Completes Airtel Nigeria Minority Buyout Offer

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Thursday, December 02, 2021 / 09:16 AM / by NGX / Header Image Credit: Arise News

 

Further to the buyout offer announcement of 4 October 2021, Airtel Africa, a leading provider of telecommunications and mobile money services, with a presence in 14 countries across Africa, today announces the completion of the minority shareholding buyback of Airtel Networks Limited ('Airtel Nigeria'), a subsidiary of Airtel Africa plc and a leading provider of telecommunication services in Nigeria.

 

The total consideration for the 8.22% minority shareholdings acquired under the buyback is NGN 61bn, equivalent to $147m using an exchange rate of 415.07 NGN/USD.

 

Airtel Africa now holds 99.96% ownership over its largest subsidiary.

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