Clairfield in Sub-Saharan Africa advises Royal Bafokeng Holdings on acquisition of Swiftnet
Royal Bafokeng Holdings (RBH) entered into a transaction agreement alongside Actis LLP to jointly acquire 100% of Swiftnet SOC Limited from Telkom SA SOC Limited.
Royal Bafokeng Holdings Pty Limited is an investment holding company in South Africa with a diversified portfolio of investments across mining, telecommunications, energy and infrastructure.
Swiftnet is one of the largest independent owners, operators and developers of mast and tower infrastructure in the South African market, with a portfolio of over 3,900 commercially productive masts and towers on its owned mast and tower-related infrastructure to customers, mainly mobile network operators, which enables these customers to operate wireless networks and / or deliver connectivity to their subscribers.
With an enterprise value of ZAR 6.75 billion (EUR 337 million), this is one of the largest tower transactions in the country. The deal will guarantee access and ensure seamless continuity for Telkom and other mobile operators that rely on the tower infrastructure.
The acquisition was in a consortium with Actis, a leading global investor in sustainable infrastructure.
The transaction represents a mutually beneficial arrangement that enables Telkom to de-gear its balance sheet and help unlock value for shareholders, while at the same time supporting the Royal Bafokeng Nation as local community-based stakeholders, through RBH, in its strategic focus on investing in infrastructure development that will create sustainable growth and prosperity.”
Rand Merchant Bank a partner of Clairfield International in South Africa, acted as financial advisor on the buy-side for RBH, showcasing their continued market leadership in executing complex transactions in the TMT sector in Africa.
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