Jakarta, CNBC Indonesia – The telecommunication tower issuer belonging to the Djarum Group, PT Sarana Menara Nusantara Tbk (TOWR) officially acquired a 94.03% stake in PT Solusi Tunas Pratama Tbk (SUPR) or STP with a transaction value of Rp 16.73 trillion.
The transaction was carried out on October 1, 2021 through TOWR’s subsidiary, PT Professional Telekomunikasi Indonesia (Protelindo) with an exercise price of Rp 15,640 per share, a premium price above the highest price last September of Rp 14,000/share.
Protelindo took over SUPR’s shares from 14 parties, including PT Kharisma Indah Ekaprima, Cahaya Anugerah Nusantara Holdings Limited; Pioneering Networks Investments; Fajarindo Nusantara Holdings; Perdana Indonesia Holdings; Uniperkasa Indonesia Investments; Nusantara Connectivity Ventures; Puncak Pratama Holdings Limited.
Selanjutnya, Clearwater Insight Investments; Tumbuh Abadi Holdings Limited; Sentral Nusantara Holdings Limited; Great Archipelago Capital; Evergreen Digital Capital; dan Towering Heights Investments Limited.
In his explanation to the Indonesia Stock Exchange (IDX), TOWR management said that the background for the takeover transaction was for the development of Protelindo’s business and expansion of its business network in order to strengthen Protelindo’s position as an independent tower owner and operator in order to serve Indonesian telecommunications operators.
STP is one of the telecommunications tower companies in Indonesia with 6,780 towers and 12,500 rentals and more than 9,000 km of fiber optic cable network. STP was founded in 2006 and is a listed company on the IDX.
In addition to leasing telecommunication towers, STP also provides fiber optic backhaul capacity services and other services related to telecommunication network operators, internet service providers and others. Protelindo is one of the parties that participated in the competitive auction process for 4 months, and has been selected as the winner of the auction.
“Protelindo sees that STP’s portfolio will further complement Protelindo’s current portfolio,” said TOWR management, quoted Wednesday (6/10/2021).
This takeover transaction will strengthen Protelindo’s position as the largest independent tower company in Indonesia with more than 28,300 towers and nearly 53,000 tenants and a tenancy ratio close to 1.9 times.
In addition, STP has a significant focus on revenue from Top-3 operators so this acquisition will further strengthen Protelindo’s Tier-1 customer profile. Later, Protelindo will integrate STP’s portfolio into Protelindo’s.
Deputy President Director of Protelindo, Adam Gifari, told CNBC Indonesia that the company is currently in the process of making a mandatory tender offer at the Financial Services Authority (OJK) after Protelindo acquired a 94.03% stake in SUPR.
“The process is being carried out with OJK. Once it has been approved, it will be launched,” he said, Friday (1/10/2021).
The Djarum Group is a conglomerate controlled by the two richest men in Indonesia, Robert Budi Hartono and his older brother, Michael Bambang Hartono, with companies including TOWR, Blibli, recently purchased Ranch Market, and PT Bank Central Asia Tbk (BBCA). .
Robert Budi Hartono occupies the first position of the richest person in Indonesia and the position of the 96th richest person in the world according to Forbes. His total wealth is currently estimated at US$ 19.8 billion or Rp. 283.14 trillion.
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