Helios Investment Partners has announced the acquisition of a 60% shareholding in Telkom Kenya by Jamhuri Holdings Limited (JHL), a company owned 100% by HeIios Investors III, a fund advised by Helios Investment Partners.

The transaction, which has received regulatory approval, also included an increase in the shareholding of the Government of Kenya in Telkom Kenya from 30% to 40%.

Babatunde Soyoye, co-founder and Managing Partner of Helios Investment Partners, said: “Helios is excited about the opportunity to work with all stakeholders to transform Telkom Kenya into a successful telecommunications operator in Kenya.”

“We look forward to partnering with the company’s staff, customers, business partners, our co-shareholder GoK, as well as the Kenyan public in general to progress the development of the telecommunications sector in Kenya,” he said.

Commenting on the transaction, Cabinet Secretary for National Treasury, Henry K. Rotich, said: “We have seen the positive impact of Helios’ investments in other sectors of our economy and we hope and trust that their investment in TKL will have a transformative impact on the operations and standing of the company.”

“We wish Helios well and look forward to interacting further, as we seek to find ways on how best we can achieve our mutual objective of growing TKL into a sustainable and prosperous business.”

Established in 1999, Telkom Kenya provides integrated communications solutions in Kenya with the widest range of voice and data services as well as network facilities for residential and business customers.

Eddy Njoroge, Chairman of the Board of Directors of Telkom Kenya, said: “Telkom Kenya is delighted to welcome Helios into the anchor shareholding of the company. The company is confident that the combination of the Helios’ expertise, resources and experience and track record in investment across the continent will be invaluable contributors to Telkom Kenya’s transformation.”

The London office of Debevoise & Plimpton has advised Helios on this transaction.

The Debevoise team was led by London partner Geoffrey P. Burgess and associate Dominic Blaxill.

Tax advice was provided by London partner Richard Ward and associate Ceinwen Rees.

Anjarwalla & Khanna acted as local Kenyan counsel for Helios.