Client
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PT Profesional Telekomunikasi Indonesia
(“Protelindo”)
Target
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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
Completion
Nov-19
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
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Sole financial advisor to Protelindo on the acquisition
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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
