Helios Investment Partners in the $1.2 Billion African Telecommunications Joint Venture
August 13, 2007
Cleary Gottlieb represented Helios Investment Partners in the acquisition of a 22% stake in a joint venture vehicle established by Portugal Telecom to hold all of its telecommunications assets and interests in sub-Saharan Africa. The joint venture is valued at US$1.2 billion and the deal closed on August 13.
The joint venture represents a significant investment by Helios and its coinvestment partners in the region, and is an important strategic maneuver for Portugal Telecom. Through the joint venture the parties intend to develop a unified, coherent multi-strategy telecommunications services provider capable of operating throughout sub-Saharan Africa by combining Portugal Telecoms' broad operational experience with Helios' financial expertise and its extensive knowledge of, and contacts in, the region.
Helios is a London-based investment firm which focusses on making private equity investments in sub-Saharan Africa. Cleary Gottlieb has assisted Helios with the establishment of its initial investment fund, and has also assisted Helios with a previous investment. Portugal Telecom is an international telecommunications company with businesses and assets in Europe, Africa and South America. It is listed in New York and Lisbon and is the largest public company in Portugal.