Law firm advises Zain Group on $180m telecoms infrastructure deal
Photo: Zain Group
Baghdad (IraqiNews.com) – British-American law firm Norton Rose Fulbright provided advice to Zain Group about the company’s decision to enter into a formal 15-year agreement with TASC Towers Iraq to sell and leaseback the physical infrastructure of its 4,968 tower portfolio in Iraq. The deal was worth $180 million.
The active infrastructure used by Zain Iraq to run its telecom network, including wireless communication radios, antennas, intelligent software, transmission systems, and intellectual property, will remain in place.
Prior to this transaction, Norton Rose Fulbright assisted Zain Group with the sale of 2,830 towers in Jordan to TASC Towers Jordan. With a global focus on digital infrastructure, Norton Rose Fulbright often counsels clients on a wide range of tower, fiber, data center, and other digital infrastructure transactions.
As of September 30, 2022, over 52 million active customers were receiving mobile voice and internet services from Zain Group, a top telecom provider in the Middle East and Africa.
In the Middle East, North and East Africa, and South Asia, TASC Towers, a global tower operator with its headquarters in Dubai, focuses on sale and leaseback, build-to-suit, and tower-related investments.