Leading Indonesian law firm Hiswara Bunjamin & Tandjung has advised PT Indosat Tbk. on the sale and lease back of 3,100 telecommunication towers for approximately US$452 million.
Indonesian tower operators Mitratel and Protelindo will acquire 2,100 and 1,000 towers respectively, which Indosat will then lease back.
Indosat is one of Indonesia’s largest telecommunications network and service providers
“We are delighted to have advised on this transaction, having worked closely with Indosat team on this project since January 2019," said Hiswara Bunjamin & Tandjung corporate partner Teguh Arwiko. "Indonesia is one of the fastest developing telecommunications markets in the world. This transaction will allow Indosat to reduce its costs in maintaining telecom towers and maximise its business value in the long term.”
Teguh Arwiko led the team advising Indosat, supported by associate Maydiba Thandi and trainee associate Chris Megananda.