Client
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PT Profesional Telekomunikasi Indonesia
(“Protelindo”)
Target
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Acquisition of 90.11% of the total shares from various sellers in PT Inti Bangun Sejahtera Tbk (“IBST”) by PT iForte Solusi Infotek (“iForte”), the fibre optic and connectivity arm of Protelindo
Transaction summary
Deal value
Transaction highlights
The acquisition of IBST, a listed independent digital instructure platform, marks Protelindo’s success with yearly consecutive M&A wins since 2018
Further bolsters Protelindo’s position as Indonesia’s largest independent digital infrastructure company in its tower, fibre, and connectivity businesses
Strengthens the strategic partnership between Protelindo and Smartfren (now XLSmart) through a 10-year lease arrangement for the existing tower and fibre businesses in IBST
Completion
Jul-24
Client description
- Protelindo is the largest independent digital infrastructure company in Indonesia and is listed on the Indonesia Stock Exchange (“IDX”)
- Protelindo operating metrics (Jun-24):
- >31,000 towers
- >54,000 tenancies
- >14,000 activations
- >192,000 kms of revenue generating fibre
Redpeak role
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Sole financial advisor to Protelindo on the acquisition
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Successfully positioned Protelindo as the preferred bidder throughout a highly competitive sale process
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Led and coordinated all aspects of the transaction including valuation, due diligence, transaction structuring (which included numerous ancillary partnership arrangements) and transaction documents negotiations
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Significant deal execution experience and longstanding relationship with Protelindo facilitated a swift and smooth process despite a tight time frame to complete DD and valuation exercise during the competitive process and submitting the most credible binding offer, and facilitated a smooth and efficient process thereafter between signing and closing
