Skadden, White & Case and KPMG advise Axian (H. Hiridjee) and ECP on the acquisition of 51% of Togocom
The national telecoms operator which signed an agreement for the privatisation of 51% of its capital last night in Lomé, was advised on this transaction by by Jones Day, Lazard and EY Côte d’Ivoire sur cette opération. Jeune Afrique Business+ explains.
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▪ Skadden, White & Case and KPMG advise Axian (H. Hiridjee) and ECP on the acquisition of 51% of Togocom
▪ The national telecoms operator which signed an agreement for the privatisation of 51% of its capital last night in Lomé, was advised on this transaction by by Jones Day, Lazard and EY Côte d’Ivoire sur cette opération. Jeune Afrique Business+ explains.
▪ https://www.africabusinessplus.com/en/800181/skadden-white-case-and-kpmg-advise-axian-h-hiridjee-and-ecp-on-the-acquisition-of-51-of-togocom/
The amount of the transaction has not been disclosed but a reliable source has indicated that it “gives Togocom an excellent valuation”. Indeed, it is a profitable company with over a 50% market share, ahead of the other local operator, Morocco’s Moov Togo, and recorded revenue of CFA francs 120 billion ($203m) in 2018. The State retains the remaining 49% stake. The new entrants in Togocom’s capital have undertaken to invest $271m (CFA francs 160bn) over the next seven years to develop broadband and modernise the networks at Togocom’s two business divisions: Togo Telecom (landlines) and Togo Cellulaire (mobiles).
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