Latham & Watkins Advises The Rise Fund on Investment in Airtel Africa’s Mobile Money Business at US$2.65 Billion Valuation

London team represents global impact investing platform of TPG in the transaction.

March 18, 2021

Latham & Watkins advised The Rise Fund, the global impact investing platform of leading alternative investment firm TPG, on a US$200 million investment in Airtel Mobile Commerce BV (AMC BV), a wholly owned subsidiary of Airtel Africa plc. AMC BV is currently the holding company for several of Airtel Africa's mobile money operations; and is now intended to own and operate the mobile money businesses across all of Airtel Africa's fourteen operating countries.

The transaction values Airtel Africa's mobile money business at US$2.65 billion. The Rise Fund will hold a minority stake in AMC BV upon completion of the transaction, with Airtel Africa continuing to hold the remaining majority stake. The deal is subject to customary closing conditions including necessary regulatory filings and approvals, as required, and the inclusion of specified mobile money business assets and contracts into AMC BV.

The Latham team was led by London private equity partner Kem Ihenacho with associates Laura Kichenside, Alice Drayton, and Warren Wellington. Advice on commercial arrangements and financial regulatory matters was provided by Christian McDermott and Stuart Davis, partners in the firm’s fintech group.

 
 
Notice: We appreciate your interest in Latham & Watkins. If your inquiry relates to a legal matter and you are not already a current client of the firm, please do not transmit any confidential information to us. Before taking on a representation, we must determine whether we are in a position to assist you and agree on the terms and conditions of engagement with you. Until we have completed such steps, we will not be deemed to have a lawyer-client relationship with you, and will have no duty to keep confidential the information we receive from you. Thank you for your understanding.