07:25 AM EST, 12/02/2024 (MT Newswires) -- IHS Holding ( IHS ) said Monday that it has agreed to sell its 70% stake in IHS Kuwait, including 1,675 sites and 700 managed sites, to telecommunications operator Zain Group for an enterprise value of $230 million.

The company said the deal, which is part of IHS Towers' strategic review, is expected to close in H1 2025, pending regulatory approvals.

Proceeds will primarily be used to reduce company debt, IHS said.