edotco, partners with Dawood Hercules, to acquire Jazz- owned Pakistan tower business “Deodar”.

Islamabad – 30 August, 2017: edotco Group Sdn Bhd (“edotco”), in its biggest expansion to
date, together with Dawood Hercules Corporation Limited (“DH Corp”), a leading listed
investment conglomerate in Pakistan announced the acquisition of approximately 13,000
towers from Pakistan Mobile Communications Limited (Jazz).
edotco, through Tanzanite Tower Private Limited, a wholly owned subsidiary of edotco
Pakistan Private Limited (“edotco PK”), entered into an agreement with PMCL to acquire its
tower subsidiary, Deodar Private Limited (“Deodar”) and its portfolio of over 13,000 tower
assets. As part of the transaction, DH Corp will be investing a 45% equity stake with the
remaining 55% control stake to be held by edotco. The total transaction consideration for the
proposed acquisition is USD 940 million, which will be funded through a combination of debt
and equity.
Suresh Sidhu, CEO of edotco said, “edotco is delighted to expand its business in Pakistan by
catering to the network requirements of Jazz, the country’s number one digital
communications company. With Dawood Hercules as our partner, we are confident in the
potential of the market in Pakistan and will continue to demonstrate our long-term
commitment to supporting the development and enhancement of the country’s
telecommunications infrastructure.”
Inam ur Rahman, CEO of DH Corp, said: “DH Corp has always invested in projects and
businesses that directly contribute to Pakistan’s growth and prosperity. Continuing our
commitment to the future, we are excited to partner with edotco Group Malaysia and bring
their wealth of knowledge to the local telecommunications sector. We are confident this
enterprise will serve as a beacon for more investment in Pakistan and in our people.”
Aamir Ibrahim, CEO of Jazz commented, “This transaction with Tanzanite Tower will allow
Jazz to further improve its core strength in providing best in class products and services to its
customers. Partnering with a trusted partner like Tanzanite Tower will ensure that Jazz’
customers will continue to benefit from industry leading network quality. It also allows Jazz to
focus on its journey to becoming an innovative digital lifestyle partner.”
At completion of the sale, Deodar will enter into a master services agreement (MSA) with
Jazz, whereby it will continue to provide tower services to Jazz. The initial term of this MSA is
twelve years and is renewable at Jazz’s discretion for three consecutive periods of five years
each.
As a result of the terms of the Pakistan Mobile Communication Limited (Jazz)/Warid earn-out
agreement, following the completion of the transaction, GTH’s stake in Jazz will be
approximately 83%.

Badar Zubair

I am technology enthusiast. I've been working online since 2014. I love collecting information about new technologies and spreading them to other.

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