Skadden, White & Case and KPMG advise Axian (H. Hiridjee) and ECP on the acquisition of 51% of Togocom
The national telecoms operator which signed an agreement for the privatisation of 51% of its capital last night in Lomé, was advised on this transaction by by Jones Day, Lazard and EY Côte d’Ivoire sur cette opération. Jeune Afrique Business+ explains.
07/11/2019 at 17h31, by Gaëlle Arenson
The amount of the transaction has not been disclosed but a reliable source has indicated that it “gives Togocom an excellent valuation”. Indeed, it is a profitable company with over a 50% market share, ahead of the other local operator, Morocco’s Moov Togo, and recorded revenue of CFA francs 120 billion ($203m) in 2018. The State retains the remaining 49% stake. The new entrants in Togocom’s capital have undertaken to invest $271m (CFA francs 160bn) over the next seven years to develop broadband and modernise the networks at Togocom’s two business divisions: Togo Telecom (landlines) and Togo Cellulaire (mobiles).
Recommended articles
Telecoms
25/04/2023 at 16h06, by Africa Business+
Tarik Boudiaf hands over the reins of Togocom (Axian) in Lomé to Pierre Antoine Legagneur
The man who has been in charge since August 2022 has just been replaced at the head of the holding company,...
Telecoms
06/07/2022 at 17h32, by Africa Business+
Axian’s Togocom will not appeal regulatory fine
The mobile operator of Hassanein Hiridjee’s group will not contest the fine of CFAF 2.4 billion ($3.6...
Telecoms
20/01/2022 at 16h28, by Africa Business+
Geka Telecom CEO Nicolas Mercier looks to Lomé, Cotonou, Ouaga and Bamako for new openings
The French specialist in fibre optic networks and telecoms services is looking to strengthen its presence...
Private Equity
05/10/2021 at 15h45, by Africa Business+
Vincent Le Guennou appointed CEO of new Africa50 fund
Exclusive from Jeune Afrique Business+
Agribusiness
30/08/2021 at 16h31, by Africa Business+
ECP finally exits Thunnus Overseas Group
The operation allows the Dutch Parlevliet & Van der Plas to take 50% of the group of the Ivorian-Lebanese...
Private Equity
26/08/2021 at 16h08, by Africa Business+
Vincent Le Guennou: “I am working on a new strong initiative on the continent.”
The co-CEO of Emerging Capital Partners (ECP)—whom we were unable to reach last week—confirmed to Jeune...