Airtel Money Gets Second Closing Injections from TPG, QIA, Mastercard
Airtel Africa, a leading provider of telecommunications and mobile money services, with a presence in 14 countries across Africa, today announces second closing relating to the Airtel Money minority fresh capital injections worth $125 million.
According to the telcos giant, the second closing deal relates to investment transactions with TPG’s The Rise Fund, Mastercard and QIA previously announced by the Group on 18 March 2021, 1 April 2021 and 30 July 2021 respectively.
With the conditions for second closing having now been met, Airtel Africa said TPG and QIA have each invested a further $50 million, and Mastercard a further $25 million, in the secondary purchase of shares in AMC BV from a subsidiary of Airtel Africa, the statement reads.
Both QIA and TPG each appointed a director to the board of AMC BV upon the first closings. Read Also: Airtel Africa Partners Mastercard to Transform Digital Payments,
With these second closings, Airtel Africa will have received a total of $500 million cumulative proceeds from the minority stake sales in Airtel Money from the three investors.
As previously reported, the proceeds from these secondary stake sale transactions will be used to reduce Group debt and invest in network and sales infrastructure in the respective operating countries. #Airtel Money Gets Second Closing Injections from TPG, QIA, Mastercard
