BRIEF-Airtel Africa Says Mastercard To Invest $100 Mln In Its Mobile Money Business

PUBLISHED: Thu, 01 Apr 2021 06:19:34 GMT
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April 1 (Reuters) – Airtel Africa PLC:

* AIRTEL AFRICA PLC – MASTERCARD INVESTMENT IN MOBILE MONEY BUSINESS

* AIRTEL AFRICA – SIGNING OF AN AGREEMENT UNDER WHICH MASTERCARD WILL INVEST $100M IN AIRTEL MOBILE COMMERCE BV

* AIRTEL AFRICA – TRANSACTION VALUES AIRTEL AFRICA’S MOBILE MONEY BUSINESS AT $2.65BN ON A CASH AND DEBT FREE BASIS.

* AIRTEL AFRICA – MASTERCARD WILL HOLD A MINORITY STAKE IN AMC BV UPON COMPLETION OF TRANSACTION

* AIRTEL AFRICA – PROCEEDS FROM TRANSACTION WILL BE USED TO REDUCE GROUP DEBT AND INVEST IN NETWORK AND SALES INFRASTRUCTURE Source text for Eikon: Further company coverage:

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