Browsing: Airtel Mobile Commerce BV (AMC BV)

Qatar Holding LLC, an affiliate of the Qatar Investment Authority (QIA) is set to invest $200 million in Airtel Africa’s mobile money business dubbed Airtel Mobile Commerce BV (AMC BV).

This follows an agreement that was signed between the two firms.

Majority stake

According to the signed agreement, QIA will hold a minority stake in AMC BV upon completion of the Transaction (alongside other minority investors), with Airtel Africa continuing to hold the majority stake. The Transaction is subject to customary closing conditions.

A statement released by the telecom’s operator states that deal will close in two tranches, $150 million invested at the first close. The remaining $50 million will be invested at the second close.

QIA will be entitled to appoint a director to the board of AMC BV and to certain customary information and minority protection rights.

Also Read: Nigerian healthtech Field Intelligence expands into new East, West …