Protelindo: acquisition of PT Alita Praya Mitra’s (“Alita”) fibre optic assets

Asset acquisition

Protelindo: acquisition of PT Alita Praya Mitra’s (“Alita”) fibre optic assets

Asset acquisition

Client

PT Profesional Telekomunikasi Indonesia
(“Protelindo”)

Target

Acquisition of ~10,800km of revenue generating fibre assets from Alita by PT BIT Teknologi Nusantara (“BIT”), a wholly owned subsidiary of PT iForte Solusi Infotek (“iForte”), the fibre optic and connectivity arm of Protelindo.

Transaction summary

Deal value

IDR800bn

Transaction highlights

  • Marks Protelindo’s first fibre assets acquisition to strengthen its position as the leading provider of fibre connectivity solutions

  • Highly complementary to iForte’s fibre optic footprint across Indonesia
  • Further enhances network effect for fibre connectivity business

Completion

Sep-22

Client description

  • Protelindo is the largest independent tower company (by tenancy count) in Indonesia and is listed on the Indonesia Stock Exchange
  • Protelindo operating metrics (Jun-22):
    >29,200 towers
    >54,700 tenancies
    >13,300 activations
    ~95,400 kms of revenue generating tower fibre assets

Redpeak role

Sole financial advisor to Protelindo on the acquisition

Successfully positioned Protelindo as the preferred bidder by showcasing its strong transaction execution capability while meeting the strategic objectives of Alita

Led and coordinated all aspects of the transaction including valuation, due diligence and transaction document negotiation, amongst others

Deep knowledge of the sector and significant deal execution experience, particularly with Protelindo, allowed for a smooth signing and closing, notwithstanding a complex closing process