Zain Group has announced a definitive agreement to acquire the remaining 70 percent stake in IHS Kuwait from IHS Holding for $134 million, bringing its ownership to 100 percent.
IHS Kuwait, a licensed tower company, operates 1,675 towers and manages approximately 700 additional sites in Kuwait.
The acquisition aligns with Zain’s strategy to expand its digital infrastructure footprint across the region while enhancing capital efficiencies. Following this deal, IHS Kuwait will continue to provide independent tower infrastructure services within Kuwait.
Bader Al Kharafi, Zain Group vice-chairman and CEO, emphasized the strategic importance of the acquisition, stating, “This agreement supports Zain’s Digital Infrastructure regional expansion strategy, driving shareholder value and promoting sustainability through passive infrastructure services. It complements our partnership with Ooredoo to merge approximately 30,000 towers, further advancing the region’s digital and environmental goals.”
Advisors to Zain Group for the transaction included FTI Capital Advisors as exclusive financial advisors, PwC as M&A advisors, DLA Piper as international legal counsel, and GLA & Company as local legal counsel.
Zain Group, a leading telecom operator in the Middle East and North Africa, with operations in seven countries, has a subscriber base exceeding 52 million. Headquartered in Kuwait, Zain has been a pioneer in digital transformation and infrastructure modernization in the region.
IHS Kuwait Limited, previously 70 percent owned by IHS Holding, is an independent tower company that has played a critical role in providing passive infrastructure services to Kuwait’s telecom sector.
Zain’s acquisition of the company aligns with its broader efforts to centralize and streamline infrastructure management, reduce operational costs, and contribute to regional carbon footprint reduction.
This move follows Zain’s landmark agreement with Ooredoo to consolidate and expand tower operations, further cementing its leadership in digital infrastructure within the MENA region.
