Tower Bersama Infrastructure announced it has finalised its acquisition of local independent towerco Mitrayasa Sarana Informasi (Infratel) for Rp200bn (US$23.5m).
In a statement, Helmy Yusman Santoso, Bersama’s finance director and corporate…
Tower Bersama Infrastructure announced it has finalised its acquisition of local independent towerco Mitrayasa Sarana Informasi (Infratel) for Rp200bn (US$23.5m).
In a statement, Helmy Yusman Santoso, Bersama’s finance director and corporate secretary, said: “On 22 June 2011, we had announced the signing of the conditional sale and purchase agreement for this acquisition. After today’s signing of the final sale and purchase agreement, Infratel becomes a wholly-owned subsidiary of TBIG.”
Through this acquisition, Bersama said it will add 263 tower sites, 332 shelter-only sites, and 672 tenancies plus an order book to its portfolio. It added that, as a result, its tenancies and revenues are expected to increase by more than 10%.
Bersama, which is majority-owned by Saratoga Capital and Provident Capital, will finance the acquisition with the proceeds from its IPO.
In October last year, the company raised US$220m in its listing. The company said at the time that the proceeds would be used to build towers and for other capex.
This announcement comes as Bersama is rumoured to be among the companies interested in buying 4,000 towers from rival Indosat. ANZ, Bank of Tokyo-Mitsubishi UFJ, Credit Agricole and UOB are reportedly advising Bersama on its bid.
