Ooredoo Group announces $750mn deal for sale of more than 4,200 telecom towers in Indonesia

Ooredoo Group announces $750mn deal for sale of more than 4,200 telecom towers in Indonesia

Ooredoo on Tuesday announced that its Indonesian operating company, PT Indosat Tbk. (Indosat Ooredoo) has signed a sale and leaseback agreement with PT EPID Menara AssetCo (Edge Point Indonesia) for more than 4,200 telecommunications towers. PT EPID Menara AssetCo is an Indonesian subsidiary of Edge Point Singapore, which is wholly owned by Digital Colony, a leading global digital infrastructure investor with extensive experience owning and operating cellular towers. Indosat Ooredoo has agreed to sell this portfolio of towers in a transaction valued at $750mn, including a supplementary offer, making it one of the largest deals of its kind in Asia. The sale will unlock capital to create value for shareholders and continue to build Indosat Ooredoo’s strong growth momentum through improvements to network performance and the launch of innovative new digital solutions to enhance the customer experience. The sale is part of Ooredoo Group’s strategy to move to a more efficient and flexible asset light model and unlock the trapped value of its infrastructure portfolio.