Acquisition of Independent Tower Company
Posted on 22nd June 2011
Jakarta, Wednesday, 22 June 2011 - PT Tower Bersama Infrastructure Tbk. (“TBIG”) is pleased to announce the signing of the conditional sale and purchase agreement for the acquisition of 100% of the shares of PT Mitrayasa Sarana Informasi (“Infratel”), a privately owned independent telecommunications tower provider based in Jakarta, Indonesia. Following the Closing of this acquisition, Infratel will become a wholly-owned subsidiary of TBIG. Infratel’s tower portfolio consists of 263 tower sites and 332 shelter-only sites, with an aggregate of 672 tenancies. This acquisition will add more than 10% to TBIG’s revenue. “Infratel is an independent tower provider that has good relationships with telecommunication operators in Indonesia, as reflected by the quality of its tower portfolio. 92% of Infratel’s tenancies are from the four largest Indonesian telcos and its portfolio has an average remaining contract life of over eight years,” said Herman Setya Budi, President Director and Chief Operating Officer of TBIG. “We are very pleased with our core organic growth business since almost all of our growth in 2011 has come from the four largest Indonesian telcos. Acquisitions such as this enhance our growth and we will continue to consider large and small acquisitions where they satisfy our risk/reward criteria. This acquisition ticks all the boxes,” Herman said. The acquisition is expected to close in July 2011.
About PT Tower Bersama Infrastructure Tbk:
PT Tower Bersama Infrastructure Tbk. (“TBIG”), is a provider of telecommunications infrastructure for the placement of BTS by telecommunications operators in Indonesia. TBIG is one of Indonesia’s largest independent telecommunications tower companies, which also provides telecommunications infrastructure along with its operational and maintenance services for telecommunications operators. Infrastructure services offered by TBIG include tower and DAS (Distributed Antenna System) rentals through build-to-suit and co-location solutions for telecommunications operators. As of March 2011, TBIG owns and operates over 3,370 telecommunication sites serving 5,085 tenants, and this amount continues to grow in line with the high demand from telecommunications operators. TBIG is a company publicly listed on the Indonesian Stock Exchange and is majority owned by the Saratoga Group and the Provident Capital Group.