Carlyle Group is buying a 25% stake in an Indonesian towerco for around US$100m.
In line with a growing trend for private equity firms to invest in towercos in emerging markets, Carlyle is looking to acquire a stake in PT Solusi Tunas Pratama (STP),…
Carlyle Group is buying a 25% stake in an Indonesian towerco for around US$100m.
In line with a growing trend for private equity firms to invest in towercos in emerging markets, Carlyle is looking to acquire a stake in PT Solusi Tunas Pratama (STP), according to media reports citing sources with knowledge of the deal.
STP, which has a market value of US$360m, is the fourth largest tower operator in Indonesia, with over 1100 towers in the country.
Indonesia’s government has restrictions on foreign ownership of tower assets, but Carlyle will be able to structure the transaction so that it complies with the rules, according to reports.
Carlyle has made a vast number of investments in Asia, notably in China and Japan, but this will be its first acquisition in Indonesia.
The alternative asset manager has invested heavily in telecoms and TelecomFinance reported back in July that it appointed Peter Liguori, previously COO at Discovery Communications, to consult on telecoms and media investments.
Carlyle declined to comment on the deal when contacted by TelecomFinance.
