Helios Towers plc (LSE:HTWS) and Rakiza Telecommunication Infrastructure LLC entered into an agreement to acquire Passive Tower Infrastructure Portfolio of 2,890 Sites of Oman Telecommunications Company SAOG (MSM:OTEL) for approximately $580 million on May 11, 2021. The cash consideration will be split between the two parties according to their stake in the holding company. Transaction is subject to approval by Helios Towers' shareholders and customary completion conditions including approval from the Telecoms Regulatory Authority of Oman. As of May 19, 2021, Helios Towers plc has published a circular which has been approved by the Financial Conduct Authority (the "Circular") in connection with the acquisition. As of June 4, 2021, the transaction has been approved by Helios Towers' shareholders. transaction is expected to close by the end of 2021. As of February 12, 2022, the parties have agreed to extend the long-stop date from February 11, 2022 to July 12, 2022. As of July 5, 2022, the parties have agreed to further extend the long-stop date from July 12, 2022 to September 30, 2022. The transaction is strongly aligned to Helios Towers' new market and strategic growth criteria. It is expected to be immediately accretive to earnings. As of September 29, 2022, The buyer and Omantel have agreed to further extend the long-stop date for the Acquisition from 30 September 2022 to 11 November 2022. As of November 14, 2022, The buyer and Omantel have agreed to further extend the long-stop date for the Acquisition from 11 November 2022 to 24 November 2022.. The acquisition is conditional upon approval from the Telecommunications Regulatory Authority of Oman and other statutory authorities in Oman. Citigroup Global Markets Limited acted as financial advisor to Oman Telecommunications Company SAOG. BofA Securities, Inc. acted as financial advisor to Helios Towers while Vinson & Elkins LLP acted as legal advisor. As of November 25, 2022, The Company is pleased to announce that all closing conditions for the Acquisition have been satisfied. The Acquisition is now unconditional and the Company anticipates that completion of the Acquisition will take place during December 2022. Dixon, Robert S. of Gibson, Dunn & Crutcher UK LLP acted as legal advisor to Helios Towers plc (LSE:HTWS).

Helios Towers plc (LSE:HTWS) and Rakiza Telecommunication Infrastructure LLC completed the acquisition of Passive Tower Infrastructure Portfolio of 2,890 Sites of Oman Telecommunications Company SAOG (MSM:OTEL) for approximately $495 million on December 8, 2022. The gross consideration of $494.6 million has been funded through $206.2 million Group funds, of which $24.0 million was pre-paid in 2021, $88.4 million from the 30% minority shareholder, Rakiza, and $200.0 million local bank debt. Including capitalized ground leases, this represents an enterprise value of $515 million.