Indosat tower sale to close in January

Published on 12.01.2012

PT Tower Bersama Infrastructure’s purchase of 4,000 towers from Indosat for US$500m is expected to close in January, although President Director of Tower Bersama Herman Setya Budi told reporters that a few items in the purchase agreement remain to be negotiated. Indosat received bids also from PT Solusi Tunas Pratama and PT SaranaMenara Nusantara Tbk. Financial Director of Tower BersamaHelmyYusmanSantoso said finance for the deal was available from internal cash and undrawn bank lines – the latter amounting to US$1.65bn. A US$2bn facility was provided to Tower Bersama by ANZ, Bank of Tokyo-Mitsubishi UFJ, DBS, Credit Agricole CIB, Standard Bank, Oversea-Chinese Banking Corp, and United Overseas Bank. Meanwhile mobile operator XL Axiata has reportedly received 27 expressions of interest in its block of 7,000 towers which are potentially for sale.