FTI Capital Advisors Supports Zain Group on a New Sale and Leaseback Deal Carving-out 4,968 Towers to TASC Towers Iraq

Dubai, Jan 27, 2023 — FTI Consulting, Inc. (NYSE: FCN) today announced that its wholly-owned investment banking subsidiary, FTI Capital Advisors (DIFC) Limited (“FTICA- D”), acted, for the second time, as the sole financial advisor to Mobile Telecommunications Company K.S.C.P (“Zain Group”) on the sale and leaseback of its 4,968 tower portfolio in Iraq to TASC Towers Holding Limited (“TASC Towers”). Zain Group holds a 25% minority stake in TASC Towers.

The deal, signed in January 2023 for $180 million, represents Zain’s fourth sale and leaseback transaction, following agreements in Jordan, Kuwait, and Saudi Arabia. It also consolidates the group’s plans to optimize the co-location of mobile network sites with other telco operators in the country, reduce its carbon footprint to meet the Net-Zero goal by 2050 and improve the customer experience.

Fede Membrillera, Global Co-lead and TMT lead at FTI Capital Advisors, commented: “We’re delighted to continue helping Zain in delivering on their infrastructure strategy and making it a tangible reality. The TASC deal is confirmation of their commitment to the region and an endorsement of their cross-regional expansion plans. It is also example of a successful telecom operator carving out assets to strengthen their position in the market. We wish them every success.”

The arrangement will allow TASC Towers Iraq to expand its network and build 198 new tower sites across the country to meet the growing demand for connectivity over the next 12 months. TASC Towers will also manage Zain Iraq’s supporting facilities, including power generators, fuel tanks, and shelters.

About FTI Capital Advisors, LLC
FTI Capital Advisors (“FTICA”) is a global boutique middle market investment bank that specializes in M&A, capital raising, valuation and opinions, and special situations mandates across targeted industry sectors – including deep credentials in the media and entertainment sector, as well as in the energy, real estate, healthcare, and industrial sectors. Backed by the power of FTI Consulting’s worldwide network of professionals, FTICA combines deep industry expertise with investment banking and transaction execution experience to deliver value-enhancing outcomes for our clients. FTICA is registered with FINRA in the United States and engages in securities transactions pursuant to that registration. In non-US securities transactions, FTICA may be required to work with securities dealers registered in other countries. FTI Capital Advisors, LLC (member FINRA/SIPC) is the wholly-owned investment banking subsidiary of FTI Consulting, Inc. (NYSE: FCN).

About FTI Consulting
FTI Consulting, Inc. is a global business advisory firm dedicated to helping organisations manage change, mitigate risk and resolve disputes: financial, legal, operational, political & regulatory, reputational and transactional. With more than 7,500 employees located in 31 countries, FTI Consulting professionals work closely with clients to anticipate, illuminate and overcome complex business challenges and make the most of opportunities. The Company generated $2.78 billion in revenues during fiscal year 2021. In certain jurisdictions, FTI Consulting’s services are provided through distinct legal entities that are separately capitalised and independently managed. For more information, visit www.fticonsulting.com and connect with us on Twitter (@FTIConsulting), Facebook and LinkedIn.

FTI Consulting, Inc. 
200 Aldersgate
Aldersgate Street
London EC1A 4HD
+44 20 3727 1000

Investor Contact:
Mollie Hawkes
+1.617.747.1791
mollie.hawkes@fticonsulting.com

Media Contact:
Helen Obi
+44 20 7632 5071
helen.obi@fticonsulting.com

Source: FTI Consulting, Inc.