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TMCNet:  Eaton Uganda II [TendersInfo (India)]

[August 30, 2014]

Eaton Uganda II [TendersInfo (India)]

(TendersInfo (India) Via Acquire Media NewsEdge) Region : Sub-Saharan Africa Company name : Eaton Uganda Sector : N-AC - Mobile Telephony Department : Telecom,Media,Tech & Venture Capital Environmental category : B Status : Pend FAP Date SPI disclosed : August 26, 2014 Projected board date : September 30, 2014 Last Updated Date : August 26, 2014 Project Description : The project consists of the acquisition, refurbishment, operation, maintenance and leasing of tower sites by Eaton Towers Uganda Limited ( ETUL or the Company ), a Uganda-based tower company. Founded in 2011, ETUL is 100% owned by Eaton Towers Limited (formerly ETW Africa Holdings UK Limited) ( ETL or Eaton Holding ). The acquisition component of the project consists of the purchase of existing tower sites from Airtel Uganda Limited ( Airtel Uganda ). This is the Company s third tower portfolio acquisition which almost doubles its size and thereby transforming ETUL into a larger player furthering its economies of scale. IFC and other lenders and shareholders also financed ETUL s first two tower portfolio acquisitions and its subsequent launch in 2012. Project Sponsor and Major Shareholders of Project Company : The project sponsor is Eaton Towers Limited, an independent private tower company providing co-location and related services to mobile operators across Africa. The Sponsor operates across three business segments: i) tower building; ii) tower ownership; and (iii) tower operation & maintenance. Eaton was formed in 2009 through the merger of Q-Venture and Eaton Telecom Infrastructure Ltd ( ETIL ). As of today, ETL is owned by Eaton management (3%) and by two funds: Capital International Private Equity Funds VI LP (86.9%) and ADP I Holding (10.0%). Total Project Cost and Amount and Nature of IFC~s Investment : The total project cost is estimated to be US$181.8 million. The proposed IFC investment is a senior loan of up to US$18 million for IFC s own account. Location of Project and Description of Site : The project will be headquartered in Kampala, Uganda and the acquired towers are located all over Uganda. All the sites already exist (no built to suit) with the majority in rural areas while the remaining portion of the network is in urban areas. Expected Development Impact : (i) Expanded and Improved Mobile Telecommunication Access: Service quality and network coverage are currently critical issues for all mobile operators in Uganda. As their networks improve, operators will be able to offer better services as well as expand the reach of those services both in terms of geographic coverage and network traffic capacity. Further, infrastructure sharing reduces the incremental cost of service expansion for all carriers thereby making it more feasible to service remote and economically disadvantaged areas. (ii) Increased Competition: The Company~s further expansion will allow smaller and newer mobile operators to benefit from reduced barriers to entry as they will lease infrastructure instead of b Project completion date : 2015-12-31 12:00:00 Major organization : EATON TOWERS LIMITED Address : First Floor, 103 Wigimore Street, London W1U 1QS Country :United Kingdom Email : info@eatontowers.com Url : http://eatontowers.com/ Financier : International Finance Corporation (IFC), Financier address : International Finance Corporation (IFC) 2121 Pennsylvania Avenue, NW Washington, DC 20433 United States Website : http://www1.ifc.org (202) 473-3800 (202) 974-4384 (c) 2014 Euclid Infotech Pvt. Ltd. Provided by SyndiGate Media Inc. (Syndigate.info).


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