Helios Towers plc and Oman Telecommunications Company announced an agreement for Helios Towers to acquire Omantel's passive tower infrastructure portfolio of 2,890 sites, for a cash consideration of $575 million. This represents an enterprise value of $615 million including the Group's estimate of transactions costs and capitalised ground leases of $40 million. Through the Transaction, Helios Towers will establish its presence in the Middle-East region, becoming a leading independent tower infrastructure provider in Oman with 2,890 sites. These assets are expected to deliver revenues of $59 million and adjusted EBITDA of $40 million in the first full year of operations with further growth anticipated through colocation lease-up and 300 build-to-suit ("BTS") sites committed over the next seven years, for which $35 million growth capex is expected to be invested.