Vodafone Group said it will receive proceeds of €500 million from consortium of investors led by Global Infrastructure Partners and KKR as part of a co-control partnership for Vantage Towers.
Vodafone said the total net proceeds will be €5.4 billion. The consortium’s ownership in Oak Holdings will reach 40 percent.
Vodafone has agreed with the Consortium a further 6 month window to acquire additional shares in Oak Holdings at the same price, up to a maximum of 50 percent ownership, by the end of 2023.
Vodafone’s 12 month option to pursue a sell-down to a 50 percent ownership stake in Oak Holdings outside of lock-up provisions and other restrictions will now commence on 1 January 2024.