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Airtel Africa gets $200-mn investment from Qatar Investment Authority

With this fresh investment, the overall debt of Bharti Airtel will reduce to $3.5 billion

Press Trust of India  |  New Delhi 

Airtel Africa gets $200-mn investment from Qatar Investment Authority

The Investment Authority will invest $200 million in through a primary equity issuance in the company.

"Investment Authority (QIA), the sovereign wealth fund of the State of has agreed to invest $200 million through a primary equity issuance in the company. The proceeds will be used to further reduce Airtel Africa's existing net debt," Airtel said in a statement.

With this fresh investment, the overall debt of will reduce to $3.5 billion.

The investment from QIA is in addition to the recent $1.25 billion investment by six leading global investors, including Warburg Pincus, Temasek, Singtel, and International, in

Representatives from the six investors have already joined the board.

The fresh transaction with QIA will not involve any sale of shares by the existing shareholders, the statement said.

"We are excited to welcome the as a long-term strategic equity partner. We look forward to a long and fruitful partnership with QIA," Airtel Africa said.

is a pan-African company with operations in 14 countries across Africa.

"As a long-term global investor, we are delighted to invest in one of the leading telecommunication in Africa. QIA will look forward to supporting Airtel's vision in building a world-class business in the African continent," QIA said.

In 2013, Airtel received investment from the Endowment, a entity managed by the Qatar's royal family, which exited from the firm in November 2017 after selling stake for $1.48 billion.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Wed, January 30 2019. 18:05 IST
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