stc Group makes a move into Europe through its infrastructure arm “TAWAL”
20.4.2023 18:09:00 EEST | Business Wire | Press release
stc Group, an engine of digital transformation in the MENA region, announces today that its ICT infrastructure subsidiary, TAWAL, has signed an agreement to acquire United Group’s telecommunications tower assets.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230420005678/en/
stc Group Logo (AETOSWire)
The agreement, valued at EUR 1.220 bn supports stc Group’s ambitious strategy to expand its international footprint in key markets with significant growth potential.
Marking TAWAL’s first step in Europe, this move represents a major milestone in its international expansion journey and stc Group’s growth ambitions which have been active growing in the ICT adjacencies including recent investments in ICT, IoT, Cloud, Cybersecurity, Fintech and digital entertainment through its subsidiaries.
Following completion of the acquisition, TAWAL will own and operate more than 4,800 sites across Bulgaria, Croatia, and Slovenia (all European Union member states, two of which are already members of the Eurozone), providing the full range of passive infrastructure services ranging from ground-based towers, rooftops small cells to in-building-solutions. As part of the 20-year master services agreement with United Group, TAWAL will deploy over 2,000 additional sharable sites, while co-location relationships with other mobile network operators will be maintained and expanded, enabling stc Group to drive digital transformation through providing world-class connectivity.
Olayan Alwetaid, Chief Executive Officer, stc Group, said: “Our agreement with United Group represents an exciting new chapter for TAWAL and the wider stc Group. The agreement is a significant milestone in our ambitious growth strategy and the expansion of our international footprint. We are already leading the transformation of Saudi Arabia’s digital capabilities and this transaction reinforces our commitment to investing in best-in-class technology and infrastructure to lead the way in enabling the world to connect.”
Mohammed Alhakbani, Chief Executive Officer, TAWAL, said: “We are delighted to partner with United Group in our first investment in the European market. The partnership supports our goal to continue to provide innovative and efficient ICT infrastructure solutions to our partners and deliver the quality of services we are renowned for.”
The transaction is subject to regulatory approval from the relevant authorities in Bulgaria and Slovenia. Upon completion, TAWAL’s operations in the European market will be rebranded as “TAWAL Europe” and will serve as TAWAL’s platform for any future expansion in Europe.
TAWAL currently owns a portfolio of over 16,000 telecom towers. The company is actively supporting digital transformation plans in Saudi Arabia, expanding its reach across new cities and rural areas in the Kingdom and actively rolling out smart-city-ready technologies such as camouflage telecom towers, smart poles capable of hosting 5G and IoT applications, in-building solutions, and small cells.
*Source: AETOSWire
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230420005678/en/
Contact information
Tarek Chahine, +966112152211
tchahine@webershandwick.com
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Jefferies Financial Group Inc. Announces Pricing of €850,000,000 4.500% Senior Notes Due 20338.7.2026 23:16:00 EEST | Press release
Jefferies Financial Group Inc. (NYSE: JEF) (“JFG”, “we” or “our”) today announced the pricing of its public offering of €850,000,000 aggregate principal amount of 4.500% Senior Notes due 2033 (the “Notes”) with an effective yield of 4.544%, maturing, July 15, 2033. The offering is expected to settle on July 15, 2026, subject to the satisfaction of customary closing conditions. Application is expected to be made for the Notes to be admitted to the Official List of the Irish Stock Exchange plc, trading as Euronext Dublin, and admitted to trading on the Global Exchange Market of Euronext Dublin; any listing is subject to approval by Euronext Dublin. JFG intends to use the net proceeds of the offering for general corporate purposes. Jefferies International Limited served as sole global co-ordinator and joint active book-runner for the offering of the Notes, Banco Santander, S.A., Citigroup Global Markets Limited, Natixis, SMBC Bank International plc and Société Générale served as joint act
KiddeFenwal Launches New Website and Information Hub8.7.2026 19:00:00 EEST | Press release
KiddeFenwal, the global leader in the fire suppression and safety controls industry, today unveiled a revitalized website, designed to serve as a comprehensive information hub for fire industry practitioners and customers alike. The modernized platform includes features created specifically with the company’s global partners, OEMs and distributors in mind, including: Accelerated asset navigation, pointing users to critical safety documentation, design parameters and product specifications; Seamless solution mapping, helping users quickly locate fire suppression configurations by industry, from data centers to BESS applications to commercial kitchens; and Enhanced resource access, including streamlined pathways to connect with the company’s elite distributor network across 120 countries. It also provides information about the company’s three brands, Kidde Fire Systems, Kidde Fire Protection and Fenwal Controls, replacing other sites serving customers in Europe and India. The launch of t
Red Sea Global Strengthens AMAALA's Wellness Offering With Opening of Six Senses AMAALA8.7.2026 18:22:00 EEST | Press release
Red Sea Global (RSG), the regenerative tourism developer, has announced the opening of beachfront resort Six Senses AMAALA, which will welcome its first guests mid-July. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260708505794/en/ An aerial view of Six Senses AMAALA and its surrounding shoreline at Triple Bay The launch represents an exciting next step in the AMAALA destination’s journey, as it continues to come to life and welcome guests to enjoy unrivaled wellness experiences set against a backdrop of soaring coastal cliffs, protected bays, pristine beaches, and mountainous desert. "Every partner we bring into our portfolio is selected because they share our long-term vision of luxury travel with regeneration for people and planet at its center. Six Senses has built a global reputation for wellness experiences rooted in nature, sustainability, and local culture, making it a natural fit for AMAALA. As the second Six Sens
Rigaku Opens "Rigaku Solutions Center Osaka" to Strengthen Global Semiconductor Metrology Service Capabilities8.7.2026 18:00:00 EEST | Press release
Rigaku Corporation, a global solution partner in X-ray analytical systems and a group company of Rigaku Holdings Corporation (headquarters: Akishima, Tokyo; CEO: Jun Kawakami; “Rigaku”), has opened the Rigaku Solutions Center Osaka (RSC-Osaka) at its Osaka Plant. The new facility centralizes and expands practical training for field service engineers supporting semiconductor metrology systems, strengthening Rigaku's global service capabilities. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260708402770/en/ Photo: Hands-on training using the TXRF-V310 at RSC-Osaka As semiconductor manufacturing processes continue to advance toward finer geometries, higher layer counts, and more complex three-dimensional structures, semiconductor metrology systems require ever greater precision and operational stability. X-ray analytical technologies play an increasingly important role in meeting these demands through highly accurate, non-dest
Dryad Networks Reaches XPRIZE Wildfire Finals Milestone, Demonstrating Autonomous Detection and Suppression of Wildfires in Alaska8.7.2026 18:00:00 EEST | Press release
Dryad Networks, the leader in ultra-early wildfire detection technology, today announced a major achievement in the finals of the Autonomous Wildfire Response track of XPRIZE Wildfire, a four-year, $11 million global competition accelerating new solutions to end destructive wildfires. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260707802818/en/ The Silvaguard Suppression Drone can deliver a 100 liter liquid suppressant to autonomously suppress small wildfires detected by Silvanet Competing against just two other finalists selected from an original field of nearly 300 teams worldwide, Dryad successfully demonstrated the integrated capabilities of its Silvanet wildfire detection network and Silvaguard autonomous firefighting drone system during final testing in remote Alaska. The XPRIZE Wildfire finals challenged teams to autonomously detect and suppress a wildfire without any human intervention across a vast 1,000 square k
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom