MTN completes the sale of ATC joint ventures for R8,9 billion
19 March 2020
Our asset realisation programme (“ARP”), introduced in March 2019, aims to reduce debt, simplify our portfolio, reduce risk and improve returns.
Subsequent to MTN Group’s announcement on 11 March 2020 reporting its 2019 annual results and the conclusion of the disposal of its stake in ATC Uganda for R2,2 billion, MTN confirms that regulatory approvals have now been received for the disposal of its stake in ATC Ghana. MTN is due to receive further transaction proceeds of approximately $384 million (R6,7 billion, based on an exchange rate of R17,4:$1) in the next week. This takes the total proceeds received for the disposal of both ATC Uganda and ATC Ghana to R8,9 billion, which will be applied to paying down US-dollar debt and general corporate purposes.
Click here for further details: https://www.mtn.com/investors/shareholders/sens/category-sens/?sens_year=2020
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