Indosat Ooredoo, Indonesia’s leading digital telco, last week announced the signing of a Sale and Leaseback agreement with PT EPID Menara AssetCo (EdgePoint Indonesia) for more than 4,200 telecommunications towers.
PT EPID Menara Assetco is an Indonesian subsidiary of Edge Point Singapore, which is wholly owned by Digital Colony, a leading global digital infrastructure investor with extensive experience owning and operating cellular towers.
Indosat Ooredoo has agreed to sell the towers in a transaction valued at USD 750 million, including a supplementary offer, making it one of the largest deals of its kind in Asia.
The tower sale will unlock capital to build on Indosat Ooredoo’s strong growth momentum through further improvements to its network performance and the launch of innovative new digital solutions to enhance the customer experience.
The sale is part of Indosat Ooredoo’s turnaround strategy, which has refocused the business on digital products and services and sought to create optimal value from its infrastructure. Monetizing its quality portfolio of telecommunications towers is a key pillar of Indosat Ooredoo’s current strategy.
Ahmad Al-Neama, President Director and CEO of Indosat Ooredoo
I am delighted that Indosat Ooredoo has agreed this deal with Edge Point Indonesia, which has been long in the planning and is in-line with our turnaround strategy to create more value for shareholders and customers.
