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AMJ,  along with Freshfields Bruckhaus Deringer,  have advised Oman Telecommunications Company SAOG Group (Omantel) on the US$ 575 Million sale of its passive infrastructure tower assets to UK-based Helios Tower Plc., a leading infrastructure company listed on the London Stock Exchange, via a locally established SPV, (“Helios SPV”).  

This transaction will involve the sale of 2,890 telecommunications towers, located all over the Sultanate, to Helios SPV, with the transaction also involving Omantel entering into a long-term services agreement with Helios SPV to retain access to the tower assets, while sparing Omantel the associated direct operating costs, and allowing Helios SPV to market the unused capacity of the extensive tower network to other potential customers. This transaction is expected to result in significant cost savings for Omantel, while the sale proceeds from the transaction will be used by Omantel for debt reduction. Omantel will remain the owner of the active transmission equipment to be located on Helios SPV’s towers and remain the controller of its active network, spectrum and software.

This transaction represents an exciting further development in the evolution of Oman’s Telecommunications sector, and along with the granting of the 3^rd Mobile operator’s license to Oman Future Telecommunications Company SAOC, trading under the Vodaphone brand, on the 5^th January 2021, this will further enhance the sectors growth.

AMJ’s team was led by Senior Partner Mansoor Malik supported by Senior Associate Robert Booth.

More about the transaction can be read here: https://www.omanobserver.om/article/1100737/business/omantel-to-sell-tower-infrastructure-for-575-million