PT Tower Bersama Infrastructure Tbk (TBIG) stated that it had completed the sale and purchase transaction and the transfer of 3,000 telecommunication towers belonging to PT Inti Bangun Sejahtera Tbk (IBTS) to PT Tower Bersama (TB).

"The sale transaction of 3,000 towers to Tower Bersama has been completed through the signing of the deed of transfer and the deed of the transfer agreement, as well as the takeover on April 7, 2021," said TBIG Director Helmy Yusman Santoso through the IDX disclosure, Friday (9/4).

According to him, the transaction's settlement occurred after the fulfillment of various preliminary conditions, including obtaining approval from TBIG and IBTS shareholders at the Extraordinary GMS held on March 30, 2021. The value of this transaction is estimated at Rp3.975 trillion.

"In terms of performance by using the book as of September 30, 2020, the acquisition of 3,000 towers will make the company have more than 19,000 telecommunication towers, which will immediately generate higher revenue and EBITDA," he said.

On the same date, Tower Bersama as the lessee has also signed a master land lease agreement and land lease agreement with IBTS as the lessee relating to 32 lands owned by IBTS, lands of which part of the telecommunication towers being transferred stands.

PT Tower Bersama is a corporate business entity with 98% share ownership.

Meanwhile, President Director of IBTS, Andrie Tjioe added, the sale of 3,000 telecommunication towers is to strengthen its financial position to develop strategic businesses in the future.