SOFTBANK TO IN­VEST IN AIR­TEL AFRICA

Business Today - - GLOBAL BUSINESS -

Six global in­vestors, in­clud­ing SingTel, War­burg Pin­cus, Te­masek, SoftBank Group In­ter­na­tional and oth­ers, will in­vest $1.25 bil­lion through a pri­mary eq­uity is­suance in Bharti Air­tel’s sub­sidiary Air­tel Africa at a post-money eq­uity value of about $4.4 bil­lion. The fund­ing will be used to bring down the Africabased op­er­a­tor’s debt from $5 bil­lion and pave the way for an IPO. Post the deal, Bharti Air­tel’s stake in its Africa unit will be at around 65 per cent, a di­lu­tion of over 28 per cent.

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