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Opportunity Opened

Executing a Groundbreaking Sale and Leaseback Deal for Zain Group

Opportunity Opened

Executing a Groundbreaking Sale and Leaseback Deal for Zain Group

Key Contacts

Fede Membrillera and Yana Kamburova

How do you stay competitive amidst an ever- increasing demand for high-speed connectivity?

In 2020, Zain Group (“Zain”) embarked on a forward-thinking strategy aimed at maximising the monetisation of its infrastructure through site co-location with other telecom operators.

Zain, one of the leading telecommunications operators in the Middle East and Africa, aspired to become a leader in the infrastructure space across the region. To achieve this vision, Zain entered a strategic partnership with TASC Towers, laying the foundation for subsequent sale and leaseback transactions that would improve operational efficiency, unlock value from their assets and meet the ever-increasing demand for reliable, high-speed connectivity. Zain required an advisor with extensive experience and proven success in previous tower transactions in the region and turned to FTI Capital Advisors (“FTICA”) for financial and strategic advisory services.

Our Impact

FTICA enabled Zain to divest 4,968 towers to TASC Towers Iraq for USD180 million, significantly enhancing its infrastructure efficiency through the site co-location strategy, reducing its carbon footprint in alignment with its net-zero goals and enhancing its overall customer experience. The deal set the foundation for a subsequent transformative TowerCo joint venture with Ooredoo Group and the resulting expansion across key regional markets.

By the Numbers

An Innovative Sale and Leaseback Strategy

$180M

Tower Sale and Leaseback Deal Achieved

4,968

Towers Divested

2050

2050 Net-Zero Goals Facilitated

Our team guided Zain’s strategy to become a leader in infrastructure monetisation, establishing a foundational partnership with TASC Towers for future sale and leaseback transactions.

FTICA was awarded the MEA TMT Deal of the Year at the TMT M&A Awards EMEA for advising Zain. The awards celebrate excellence in dealmaking and investment in digital infrastructure, technology and telecoms.

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Our Role

Bringing together extensive regional experience and proven success in tower transactions

The engagement was facilitated by FTICA’s pre-existing professional relationships with Zain's decision-makers and our proactive efforts to show how our experience and capabilities could improve operational efficiency, create shareholder value and enable investments in network upgrades and cutting-edge technologies so Zain could focus on its core business and customers.

FTICA guided the execution of the transformative tower sale and leaseback deals, ensuring seamless collaboration and optimal outcomes for both Zain and TASC.
Our experts served as the lead M&A advisor in the transaction, guiding Zain through the sale process by providing expertise, fostering collaboration and ensuring the best commercial and operational outcomes for both Zain and TASC.
Our team helped Zain mitigate risks and navigate the complexities of the Iraqi market, ensuring the successful execution of the sale and leaseback initiative.

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Executing a Groundbreaking Sale and Leaseback Deal for Zain Group

Executing a Groundbreaking Sale and Leaseback Deal for Zain Group

How do you stay competitive amidst an ever- increasing demand for high-speed connectivity?

In 2020, Zain Group (“Zain”) embarked on a forward-thinking strategy aimed at maximising the monetisation of its infrastructure through site co-location with other telecom operators.

Our Impact