Representing PT Telekomunikasi Selular (Telkomsel) in the IDR10.2 trillion Sale & Leaseback of 6,000 Telecommunication Towers and Development of New BTS Towers of Telkomsel
Congratulations to PT Telekomunikasi Selular (Telkomsel) for completing the IDR10.28 trillion sale & lease back of its 6,000 telecommunication towers to PT Dayamitra Telekomunikasi Tbk and development of new BTS towers. Not only that the deal breaks another record in terms of value (being the largest in South-East Asia), it also breaks the record for being one of the fastest large scale asset M&A deals to be completed in the region (if not the fastest). Furthermore, with the closing of this deal, our firm has a wealth of experience in multiple tower transactions involving more than 21,000 telecommunication towers, all completed in breakneck speed, with each new deal getting faster toward completion!
Led by our Managing Partner, Pramudya A. Oktavinanda, and Senior Associate, Andika Setia Budi, as the seller counsel, we are especially proud to close the entire deal in less than a month, completing the massive due diligence in 2 weeks while preparing first drafts of all the relevant transaction documents (which also involve complex and innovative commercial arrangements) in less than a week, and swiftly negotiating and finalizing them in another 2 weeks. It was truly a mission impossible when we started the assignment, but then again, we make the impossible possible!
The transaction is expected to enhance both companies’ effort in strengthening and developing the transformation of their business portfolios, especially Telkomsel’s consistent and comprehensive transformation to become a leading digital telecommunication company in Indonesia which provides reliable digital connectivity, digital platforms and digital services that are very vital for the rapid development of the digital ecosystem and lifestyle in Indonesia.
Congratulations once again to all parties involved!
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