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Bidders line up for Myanmar’s Irrawaddy Green Towers

HORTLISTED bidders for Myanmar telecoms tower company Irrawaddy Green Towers (IGT) include Axiata Group of Malaysia, Guodong Group of China, and global private equity firm CVC Capital Partners, local press in Myanmar have reported.

IGT was set up in 2014, and is playing a major role in the development of the Myanmar telecoms market, via a network of 3,000 telecoms towers. It is currently rolling out telecom towers for all the major operators including Telenor of Norway, Ooredoo of Qatar, and domestic mobile company MPT.

IGT is owned by Singapore-based Irrawaddy Tower Asset Holding Pte Ltd, which is backed by Dubai based private equity firm Alcazar Capital, and Beirut based investment holding company M1 Group.

Reports suggest that IGT could be valued at around US$800 million. A preferred bidder is expected to be announced in July.

Guodong Group is a Chinese wireless infrastructure company based in Shanghai which operates tower assets, as well as data centres, and manufactures parts for wireless towers.

Malaysia based Axiata Group BhD is one of the leading telecoms groups in Asia, and owns infrastructure assets such as towers as well as operating mobile companies such as Celcom in its domestic market and Dialog Sri Lanka. It is participating in the bidding via its infrastructure and towers specialist subsidiary edotco.

CVC Capital Partners is a global venture capital, private equity and credit strategies firm. Its private equity platform currently manages over US$54 billion of assets, and comprises four strategies; Europe/Americas; Asia; Strategic Opportunities; and Growth Partners.

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Source : The Asset

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