Airtel Africa Plc announced on November 16, 2021 that it reached $ 125 million at the second close of Airtel money’s minority investment transactions with Qatar Investment Authority (QIA), TPG, a U.S. private equity firm, and Mastercard.
The group announced on Monday that it had received approval in principle from the Central Bank of Nigeria to operate as a super agent in Nigeria, barely a week after receiving a similar agreement from the oversight body of Nigeria. industry to create a payment service bank.
“With the conditions for the second close now being met, TPG and QIA have each invested an additional $ 50 million, and Mastercard an additional $ 25 million, in the secondary purchase of AMC BV shares from a subsidiary of Airtel Africa. Said Simon O’Hara, Secretary General of Airtel Africa Group in a note published on the Nigerian Exchange Limited.
Note that the proceeds from these transactions for the sale of secondary holdings will be used to reduce the group’s debt and invest in network and sales infrastructure in the respective countries of operation.
The fundraising follows previously announced investment transactions by the three companies between March 18 and July 30, 2021. Mastercard, TPG and QIA previously invested in the secondary purchase of Airtel Mobile Commerce BV shares. (AMC BV), a subsidiary of Airtel Africa.
With these second closings, Airtel Africa will have received a total of $ 500 million in cumulative proceeds from sales of minority stakes in Airtel Money from the three investors.
