Protelindo: Acquisition of 1,000 towers from Indosat

Asset acquisition

Protelindo: Acquisition of 1,000 towers from Indosat

Asset acquisition


PT Profesional Telekomunikasi Indonesia


Acquisition of 1,000 towers from PT Indosat Tbk. (“Indosat”)

Transaction summary

Deal value


Transaction highlights

  • First acquisition of towers from Indosat, with Indosat entering into a 10-year lease arrangement as anchor tenant
  • Further enhances Protelindo’s Tier-1 revenue and customer base
  • Transaction completed at a lower valuation relative to the other winning bidder



Client description

  • Protelindo is the largest independent tower company in Indonesia and is listed on the Indonesia Stock Exchange
  • Protelindo operating metrics (Sep-19):
    ~18,000 towers
    ~30,000 tenancies
    >3,600 VSAT
    ~17,500 km of fibre optic cables

Redpeak role

Sole financial advisor to Protelindo on the acquisition

Successfully positioned Protelindo as the preferred long-term strategic partner for Indosat throughout the highly competitive sale process

Extensive tower experience allowed for quick and all-encompassing due diligence of the portfolio, as well as determination of appropriate valuation for the transaction

Project managed and coordinated the entire transaction across all work streams, including leading negotiations on transaction documents