PT Tower Bersama Infrastructure Tbk Completes Acquisition of 2,500 Towers from Indosat
JAKARTA, 2 August 2012 - PT Tower Bersama Infrastructure Tbk ("TBIG") today announces that it has completed the acquisition of 2,500 towers from PT Indosat Tbk (“Indosat”) for an upfront consideration of US$406 million (subject to certain closing adjustments), which consists of a cash component and 239,826,310 in newly issued TBIG shares, representing 5% of TBIG’s enlarged share capital. The cash consideration was financed by internal funds and through bank debt. In addition to the upfront consideration, there is a maximum potential earn- out amount of US$113 million. Indosat, as the anchor tenant, has entered into new lease agreements with TBIG on all 2,500 towers, for a minimum period of 10 years.
“We are pleased to announce the completion of the acquisition of the 2,500 tower sites from Indosat. This acquisition is immediately accretive to TBIG, adding additional revenue and EBITDA and benefiting us from greater economies of scale. Indosat is a leading telecommunication and information service provider in Indonesia, and we look forward to working with them over the long term”, commented Hardi Wijaya Liong, TBIG’s Chief Executive Officer.
“We continue to focus on delivering strong financial and operational results. Acquisitions of high-quality tower portfolios, such as these Indosat towers, complement our organic growth strategy. As we recently announced, our organic growth continues to be robust, with a record addition of 904 tenancies in the 2nd quarter of 2012”, Hardi added.
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. As of 30 June 2012, TBIG owns and operates 5,416 telecommunication sites serving 8,584 tenants. 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
Phone: (62-21) 571 1946
Email: corporate.secretary@tower-bersama.com
Investor Relations:
Email: investor.relations@tower-bersama.com
