Bharti Airtel has increased its stake in Airtel Africa by 16.31 per cent points to approximately 79 per cent through a share-swap transaction valued at around Rs 282 billion, according to a regulatory filing.
Prior to the transaction, Bharti Airtel held a 62.73 per cent stake in Airtel Africa.
The deal involves the issuance of Airtel equity shares on a preferential basis to Indian Continent Investment Limited (ICIL), a promoter group entity, in exchange for ICIL’s 16.31 per cent stake in Airtel Africa.
According to the company, the cashless share-swap structure enables Bharti Airtel to acquire a significant stake in a high-growth business without incurring additional debt or requiring any cash outflow.
The transaction further strengthens Bharti Airtel’s economic interest in Airtel Africa, which operates across multiple markets on the African continent.
