Actis is a leading global investor in sustainable infrastructure. Actis was founded in 2004 and has a team of c.130 investment professionals across a network of 17 offices. To date, Actis has deployed billions of dollars of capital in over 300 investments. The firm currently has c. US$13 billion of assets under management on behalf of over 400 limited partners.

Actis is setting up an investment vehicle that will be incorporated as a Luxembourg Société en Commandite par Action which is raising capital from local and international investors to acquire the TowerCos's shares and an acquisition vehicle that will be incorporated in Serbia.                                              

 The acquisition will be funded by a combination of equity and bank debt. The acquisition price is commercially sensitive and will not be disclosed at this stage.  The proceeds will be used to finance the acquisition of the TowerCos's shares and pay for Transaction costs.                                            

  The telecom towers are situated in Serbia, Bosnia and Herzegovina, and Montenegro.                                                  

This is a Category B project according to IFC’s Policy on Environmental and Social Sustainability given that the project is expected to have limited adverse E&S risks and/or impacts that are a few, site-specific, largely reversible, and readily addressed through mitigation measures, as described in the following sections.

Key E&S aspects associated with the project are: (i) E&S resources and capacity, including the development and implementation of a corporate E&S management system (ESMS) and relevant procedures and plans at TowerCo to assess and manage the limited adverse E&S risks and impacts in line with IFC Performance Standards (PSs); (ii) E&S screening procedures for the development of new assets; (iii) labor and working conditions of company and contractors’ workers including occupational health and safety (OHS); (iv) emergency preparedness and response (EPR); (v) solid and hazardous wastes, hazardous material management, visual impacts, and electric and magnetic fields (EMF); (vi) community health and safety including infrastructure safety and road safety; (vii) contractor management; (viii) security management; (ix) stakeholder engagement and grievance mechanism; and (x) biodiversity risks management.