Signing of CSPA between PT Tower Bersama and PT Inti Bangun Sejahtera Tbk

Posted on 22nd December 2020

JAKARTA, 22 December 2020 – PT Tower Bersama Infrastructure Tbk. (“TBIG” or the “Company”) today announces that its subsidiary, PT Tower Bersama (“TB”), has signed a Conditional Asset Sale and Purchase Agreement with PT Inti Bangun Sejahtera Tbk. (“IBST”) for the purchase of up to 3,000 towers, for a consideration of IDR 3,975 billion (equivalent to USD 280 million).

As of 30 September 2020, TBIG had 31,703 tenants and 16,215 telecommunication sites. The Company’s telecommunication sites comprised of 16,093 telecommunication towers and 122 DAS networks. With total tower tenants amounting to 31,581 on tower sites, the Company’s tenancy ratio was 1.96.

Hardi Wijaya Liong, CEO of TBIG, commented, “We are pleased to sign this agreement with IBST to acquire these towers.  This acquisition complements our core strategy which is to focus on organic growth.  On a proforma basis, this transaction will increase our EBITDA by approximately 10% and is immediately accretive.”

The completion of the transaction is subject to various approvals including TBIG’s and IBST’s shareholder approvals and lender approvals. The transaction is expected to be completed towards the end of the first quarter of 2021.

 

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 publicly listed on the Indonesian Stock Exchange and is majority owned by Saratoga Group and Provident Capital.

For more information contact:

Corporate Secretary:

Helmy Yusman Santoso – Tower Bersama Group

Telp. (62-21) 2924 8900

Email: corporate.secretary@tower-bersama.com

Investor Relations:

Veronica Jordan

Telp. (62-21) 2924 8900

Email: veronica.jordan@tower-bersama.com

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