Global law firm Norton Rose Fulbright has advised SBA Communications Corporation and Paradigm Infrastructure Limited on the acquisition of Airtel Tanzania’s telecom tower portfolio for approximately $175 million. The deal was signed on June 2, 2021, and completion is expected to take place in the second half of Airtel Tanzania’s current financial year.
SBA Communications Corporation is a leading independent owner and operator of wireless communications infrastructure including towers, buildings, rooftops, distributed antenna systems (DAS) and small cells. With a portfolio of more than 33,000 communications sites in fourteen markets throughout the Americas and South Africa, SBA is listed on NASDAQ under the symbol SBAC. SBA is part of the S&P 500 and is one of the top 20 Real Estate Investment Trusts (REITs) based on market capitalization.
Paradigm Infrastructure Limited is a UK company focused on developing, owning and operating shared passive wireless infrastructure in selected growth markets. Paradigm's executive and management team bring together significant industry experience in starting up operations, managing and growing successful businesses in the TowerCo sector. This includes the establishment of new tower companies in Nigeria, South Africa, Ghana, Uganda, Germany, Brazil, Mexico, Chile, Columbia and Paraguay, along with the operational management of over 90,000 tower sites across EMEA, LatAm and the US. The team also has been responsible for the management of significant build programs.
The Norton Rose Fulbright London-based corporate team was led by partner Oliver Stacey and included partner Chris Viner, senior associate Mark Maurice, and associates Bryan Park, Zahra Sachedina and Tong Lap Way.