Power International Holding Completes MTS Acquisition
Deal News | Jan 20, 2025 | PR Newswire Cision Power International Holdings; QNB Group; Citi
Power International Holding (PIH), a major Qatari conglomerate, has successfully concluded its acquisition of Mobile Telecom-Service LLP (MTS) from Kazakhtelecom JSC. This acquisition marks a significant move in PIH’s expansion, especially in the fast-growing telecommunications sector in Kazakhstan. MTS, recognized for renowned brands like Altel and Tele2, is pivotal in providing 5G services in the region. The acquisition has been a complex transaction involving significant financial orchestration, spearheaded by Citi and QNB Group with global partners. This endeavor is strategic for PIH's long-term growth, aiming to enhance digital infrastructure in Kazakhstan, fostering technological advancements and economic development. PIH’s leadership, including President Ramez AlKhayyat and financial director Eyad Abdulrahim, emphasized the milestone’s alignment with their vision of global diversification and innovation. The acquisition was funded by an international consortium of financial institutions, reiterating market confidence in PIH’s strategic vision.
Sectors
- Telecommunications
- Finance
Geography
- Kazakhstan – The target company, Mobile Telecom-Service LLP, operates in Kazakhstan.
- Qatar – Power International Holding is based in Qatar, and the transaction was coordinated from there.
Industry
- Telecommunications – The acquisition involves Mobile Telecom-Service LLP, a key player in Kazakhstan's telecommunications sector.
- Finance – The financing and acquisition are supported by major financial institutions including Citi, QNB Group, emphasizing the role of financial services in facilitating the transaction.
Financials
- – Exact financial terms of the acquisition were not disclosed.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Power International Holding (PIH) | Bidding Company | Company | A diversified conglomerate based in Qatar, acquiring MTS to expand its telecom presence. |
| Kazakhtelecom JSC | Selling Company | Company | A major telecommunications provider in Kazakhstan selling its 100% stake in MTS. |
| Mobile Telecom-Service LLP (MTS) | Target Company | Company | A leading provider of 5G services in Kazakhstan acquired by PIH. |
| Citi | Financial Advisor | Company | Acted as a key financial coordinator and organizer in the acquisition financing. |
| QNB Group | Financial Advisor | Company | Provided strategic financial support and coordination in PIH's acquisition of MTS. |
| Ramez AlKhayyat | President | Person | President of Power International Holding, leading the strategic acquisition. |
| Eyad Abdulrahim | Finance and Investment Director | Person | Overseeing financial aspects and the acquisition strategy for PIH. |