ILLUSTRATION. President Director & CEO of Indosat Ooredoo, Ahmad Al-Neama (center) with Directors & Chiefs of Indosat Ooredoo
Reporter: Dityasa H. Forddanta | Editor: Herlina Kartika Dewi
KONTAN.CO.ID – JAKARTA. Rumors of the sale of thousands of towers of PT Indosat Tbk (ISAT) missed. The company sold more than 4,000 towers to third parties.
“We announce that we have signed a sales and leaseback agreement for more than 4,200 towers,” said President Director & CEO of PT Indosat Tbk Ahmad Al-Neama, Tuesday (30/3).
Edge Point Indonesia is the buyer of the asset.
Just so you know, Edge Point Indonesia or PT EPID Menara AssetCo is an entity from Edgepoint Infrasatructure. This company is the result of the collaboration between Digital Colony and Suresh Sidhu, former CEO of Edotco Group Sdn.
Also Read: Reportedly selling 4,000 towers, Indoat (ISAT) has the potential to raise IDR 10 trillion in funds
The transaction value reached US $ 750 million or the equivalent of around Rp. 10.87 trillion. “This value makes it one of the largest transactions in Asia,” added Ahmad.
The transaction settlement between the two parties is targeted to be completed in the second quarter of this year.
Thus, ISAT will provide capital to build solid growth momentum for the company through further enhancements to its network performance and the launch of new, innovative digital solutions to enhance the customer experience.
The sale is part of the strategy turnaround ISAT which has refocused its business on digital products and services and strives to create optimal value from its infrastructure.
Generating revenue from a portfolio of high quality telecommunications towers is a key pillar of the company’s current strategy.
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Reporter: Dityasa H. Forddanta
Editor: Herlina Kartika Dewi
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