Wendel Se · EURONEXT:MF
Wendel — Merger or Acquisition (October 2012)
18 slides from Wendel's merger presentation, Oct 29, 2012
Slide 1: Investment in IHS Holding
29 October 2012 Investment in IHS Holding
Slide 2: Wendel to invest c. 125M$ in IHS through Oranje-Nassau Développement
Wendel to invest c. 125M$ in IHS through Oranje-Nassau Développement Investment thesis First direct investment in Africa, in a fast growing region & industry Capture the strong growth of the African continent through a balanced geographical footprint in multiple countries IHS is a provider o
Slide 3: A transaction supporting IHS Pan-African strategy
A transaction supporting IHS Pan-African strategy Definitive agreement(*) on October 12, for the acquisition from MTN of 931 towers in Côte d'Ivoire and 827 towers in Cameroon External growth opportunity The agreement includes a commitment from IHS to roll out a build-to-suit program to support
Slide 4: IHS company profile
IHS company profile Overview Key figures Pan-African tower operator founded in 2001 with operations in Nigeria, Ghana, Sudan and South 2012 key figures (FY ending April 2012) Sudan • Total revenues: 97M$ (o/w 38M$ in collocation) Provides services across the full tower value chain: • Recurring
Slide 5: Indicative future shareholding structure of IHS Holding
Indicative future shareholding structure of IHS Holding Investment arm of the World Bank One of the largest investors in telecommunications Management and infrastructure in Africa c.10% 45bn$ committed portfolio First private equity firm to raise more than Wendel 1.8bn$ for investment in com
Slide 6: Strong development pace since inception in 2001
Strong development pace since inception in 2001 Continued expansion in Africa with 10 + markets within next 5 years Established in Nigeria in 2001 as contractor for network deployment More than 2,800 sites deployed since then, and started to diversify in 2006 3900 * Mad. Rwanda 2006: IHS launches a
Slide 7: IHS compares favorably to competition on all relevant criteria
IHS compares favorably to competition on all relevant criteria African Track Record 6 Years 2 Years 6 Years 3 Years 12 years in Network development Services Portfolio Collocation Management Services Deployment Key customers Breadth Estimated Towers under Management c.5,700 c.
Slide 8: Deal background
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Slide 9: Why invest in Africa ?
Why invest in Africa ? Africa offers a superior growth potential Superior GDP growth: the African GDP has increased by around 5% on average over the last 10 years, even more in sub-saharan Africa Strong demographics: the large and young African population (c. 1 billion people) with middle and hi
Slide 10: The African telecom market offers a combination of both scale and growth
The African telecom market offers a combination of both scale and growth Penetration in Africa is the lowest in the world… 34bn$+ Wireless Penetration Fixed Line Penetration 3G Penetration Annual revenue pool of 121% 6 largest telecom operators (1) 97% 100% 106% 134% 85% 8% 71% 101% 62% 87% 75% 58%
Slide 11: Why are towers attractive ?
Why are towers attractive ? Towercos lease “space” on towers primarily to mobile wireless service providers. They ensure network availability (uptime, power supply) and maintain/secure the tower network – Focus on passive network only – Business models can vary from BLB (Buy and Lease Back), BTS
Slide 12: A resilient business model based on long term customer contracts and a competitive product offering
A resilient business model based on long term customer contracts and a competitive product offering Growth market •Voice Subscriber Growth: Number of subscribers in Sub-Saharan Africa expected to increase from 380M in 2011 to 550M in 2015. Need for 150.000+ new towers or space on existing towers in
Slide 13: IHS in Wendel's strategy
IHS in Wendel’s strategy
Slide 14: Oranje-Nassau Développement - Structure dedicated to growth, diversification and innovative investment opportunities
Oranje-Nassau Développement - Structure dedicated to growth, diversification and innovative investment opportunities 8% 28.4% 98%(1) 95%(1) > 25% (1) Before dilution from financial instruments giving access to share capital Investment in IHS 14
Slide 15: Wendel's growth strategy
Wendel's growth strategy New investments Oranje-Nassau Wendel Développement €200 – 500M Up to €200M of equity per investment in equity per investment In geographic regions well known All geographic regions to Wendel (Germany, Benelux, North America and France) Diversification and growth Expos
Slide 16: Appendix
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Slide 17: Glossary & additional information
Glossary & additional information IHS Website http://www.ihstowers.com Glossary Build-to-Suit (BTS) IHS has the technical expertise, experience and resources required to construct and manage the development of new towers. IHS team of Site Development Project Managers handles every step of the pr
Slide 18: IHS has an experienced management team in Africa, with a broad range of operating and investing experience
IHS has an experienced management team in Africa, with a broad range of operating and investing experience Background Founded IHS in 2001 Issam Darwish Previously Deputy Managing Director at Motophone from 1988 to 2000, Network Manager at Title: Vice Chairman / Chief Executive Officer LibanCell