PT. Indosat Tbk. (Indosat Ooredoo), a leading service provider in Indonesia, agreed to sell more than 4,200 telecommunications towers to PT EPID Menara Assetco, an Indonesian subsidiary of Edge Point Singapore, which is wholly owned by Digital Colony.
The deal, which includes a lease-back agreement, is valued at USD 750 million, including a supplementary offer, making it one of the largest deals of its kind in Asia.
President Director and Chief Executive Officer of Indosat Ooredoo, Ahmad Al-Neama, said: “I am delighted that Indosat Ooredoo has agreed this deal with Edge Point Indonesia, which has been long in the planning and is in-line with our turnaround strategy to create more value for shareholders and customers. The deal marks the third and final sale of assets from Indosat Ooredoo’s high-quality tower portfolio that moves us towards a more asset-light model and greater focus on delivering outstanding mobile digital services to our customer. I would like to thank the Government of Indonesia for creating a policy environment that has enabled the telecoms industry to thrive and attract high-quality investors such as Edge Point Indonesia. Increasing investment into the sector will ultimately benefit customers and the Indonesian people.”
Suresh Sidhu, CEO of Edge Point Group, welcomed the transaction : “This deal is one of the largest of its kind in Asia and cements our position as a leading tower provider in Indonesia. We are delighted to have further strengthened our strategic partnership with Indosat Ooredoo, which has been developing over several years. The addition of 4,200 towers to our portfolio will help to create significant value for all our stakeholders.”
https://indosatooredoo.com/portal/en/corppressreleasedetail?_id=10004543
