Companies Owned By Conglomerates Edwin Soeryadjaya And Sandiaga Uno Exploring The Sale Of Tower Bersama Shares, The Value Is Insane: Rp43.5 Trillion

Illustration. (Photo: Doc. Antara)

JAKARTA - The two largest shareholders of PT Tower Bersama Infrastructure Tbk are reportedly exploring the potential sale of shares of the company codenamed TBIG.

This was reported by Bloomberg, quoted on Wednesday, July 7, where a source who asked not to be named said that private equity firm Provident Capital Indonesia and its subsidiary, investment company PT Saratoga Investama Sedaya Tbk (SRTG) had submitted a proposal to the bank regarding a possible share ownership transaction. they.

Saratoga's PT Wahana Anugerah Sejahtera owns 34 percent of Tower Bersama's outstanding shares while Provident Capital holds 22 percent. This sale is reportedly worth around Rp43.5 trillion or the equivalent of US$ 3 billion, when referring to the close of trading Monday 5 July.

Currently, Tower Bersama has a market value of approximately US$5.3 billion. With a valuation of US$3 billion, the sale of the shares, if successful, would be Indonesia's second-largest deal in 2021, following a US$7.5 billion merger between e-commerce giant PT Tokopedia and ride-hailing and payments company Gojek.

The Bloomberg source said these talks are at an early stage and may not result in a sale of the company. Bloomberg also tried to confirm with Tower Bersama, but the BTS tower rental company refused to comment.

A representative of the Saratoga Group also said that he did not know this. Bloomberg's emails and calls to Provident Capital went unanswered.

For information, Tower Bersama was established in 2004. The Company rents out space in the telecommunications tower for antennas and other wireless equipment.

Tower Bersama reported an adjusted net profit of around Rp1 trillion in 2020, an increase of 17.6 percent from Rp820 billion in the previous year.

Provident Capital's founding partner Hardi Wijaya Liong is the CEO of Tower Bersama, and Saratoga Group's President Commissioner Edwin Soeryadjaya is the president commissioner of the infrastructure company.