Intelligent Energy (IEH) has signed an agreement to acquire GTL’s energy management business, which provides energy to over 27,400 telecom towers in India, for £85m ($129m). The transaction is expected to generate long-term recurring revenues worth £1.2bn ($1.8bn) over 10 years. Management expects EBITDA margin for this activity to rise from c 15% to 30-35% (c £40m or £61m per year), within three to five years. We revise our estimates and indicative valuation to
16 Nov 2015
Profitability transformed by landmark transaction
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Profitability transformed by landmark transaction
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16 Nov 2015 - Author:
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Intelligent Energy (IEH) has signed an agreement to acquire GTL’s energy management business, which provides energy to over 27,400 telecom towers in India, for £85m ($129m). The transaction is expected to generate long-term recurring revenues worth £1.2bn ($1.8bn) over 10 years. Management expects EBITDA margin for this activity to rise from c 15% to 30-35% (c £40m or £61m per year), within three to five years. We revise our estimates and indicative valuation to