Protelindo completes acquisition of 1,000 towers with nearly 1,900 new tenancies from Indosat Ooredoo
Jakarta, December 2, 2019 | Source: Company

On November 29, PT Profesional Telekomunikasi Indonesia (“Protelindo”) announced completion of the acquisition of 1,000 towers from PT Indosat Tbk (“Indosat Ooredoo”) with nearly 1,900 tenancies. The largest tenancies are from Indosat Ooredoo, Telkomsel, H3i and XL Axiata, with Indosat Ooredoo serving as the anchor tenant on all 1,000 towers based on a 10-year lease back agreement.

Payment for the acquisition, valued at IDR1.95 trillion, was made from a combination of cash on hand and additional debt. Post the transaction, the additional debt will have limited impact on Protelindo’s reported leverage with net debt to annualized EBITDA being less than 2.5x on a run-rate basis.

The addition of nearly 1,900 tenancies from the transaction is expected to add nearly IDR280 billion to Protelindo’s total annualized run-rate revenue and nearly IDR2 trillion in contracted revenues.


Redpeak Advisers acted as Protelindo’s exclusive financial adviser for this transaction.

SMN, owner of Protelindo, is traded under the ticker "TOWR" on the Bursa Efek Indonesia.



About PT Profesional Telekomunikasi Indonesia

Protelindo is a 99.9997% owned subsidiary of PT Sarana Menara Nusantara Tbk, a company listed on the Indonesia Stock Exchange (under “TOWR”). Protelindo is currently the largest independent tower company in Indonesia, operating over 19,200 towers with over 32,300 tenancies under long term lease agreements with major wireless communications companies in Indonesia. In addition, the Protelindo group has approximately 17,500 km of revenue generating installed fiber optic cable network throughout Indonesia and offers VSAT services to a broad array of customers.


For other information about Protelindo, please contact:

Adam Gifari – Vice President Director

+62 21 2358 5500