Wendel Invests $125M In African Cell Tower Operator

Law360, New York (October 31, 2012, 3:46 PM EDT) -- European private equity firm Wendel will lead a buyer group in a $125 million deal for a substantial minority interest in African cellphone tower operator IHS, the company confirmed Wednesday, marking Wendel’s first buy on the continent.

Wendel will make the investment alongside Africa-focused private equity firms Emerging Capital Partners and Investec Asset Management Ltd., as well as a World Bank-sponsored investor and the Netherlands’ development bank.

The consortium did not give a financing breakdown or say how the ownership stake — amounting to more than...
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