Paradigm Infrastructure Limited and SBA Communications Corporation (NasdaqGS:SBAC) acquired Telecommunications Tower Assets Of Airtel Africa In Tanzania from Airtel Africa Plc (LSE:AAF) for approximately $180 million on January 5, 2022. Approximately $159m of the proceeds for the transaction has now been paid, with the balance payable in instalments upon the completion of the transfer of remaining towers to the Purchaser. Around $60m from the proceeds will be used to invest in network and sales infrastructure in Tanzania and for distribution to the Government of Tanzania, as per the settlement described in the Airtel Africa IPO Prospectus document published in June 2019. The balance of the proceeds will be used to reduce debt at Group level.

Paradigm Infrastructure Limited and SBA Communications Corporation (NasdaqGS:SBAC) completed the acquisition of Telecommunications Tower Assets Of Airtel Africa In Tanzania from Airtel Africa Plc (LSE:AAF) for approximately $180 million on January 5, 2022.