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TBIG completes purchase and transfer of 3,000 towers from IBST

09 April 2021 12:08

JAKARTA - PT Tower Bersama Infrastructure Tbk. (TBIG) today announces that its subsidiary, PT Tower Bersama (“TB”), has completed the sale and purchase and transfer of 3,000 towers from PT Inti Bangun Sejahtera Tbk. (“IBST”), for a consideration of IDR 3,975 billion (equivalent to USD 280 million). The transaction was funded by internal funds and through existing bank facilities.

“We are pleased to announce the completion of the acquisition of the 3,000 tower sites from IBST. This acquisition adds additional revenue and EBITDA  to our business. We continue to focus on delivering strong financial and operational results and acquisitions of high quality tower portfolios complement our organic growth strategy,” commented Hardi Wijaya Liong, TBIG’s Chief Executive Officer.

As of 30 September 2020, TBIG had 31,703 tenants and 16,215 telecommunication sites. The Company’s telecommunication sites comprised of 16,093 telecommunication towers and 122 DAS networks. With total tower tenants amounting to 31,581 on tower sites, the Company’s tenancy ratio was 1.96. (LM)

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