Leading Indonesian law firm and Herbert Smith Freehills' associate firm Hiswara Bunjamin & Tandjung has advised PT Indosat Tbk on the IDR10.8 trillion (US$750 million) sale and leaseback of approximately 4,200 telecoms towers to EdgePoint Indonesia.
PT Indosat Tbk is Indonesia's leading digital telco, reaching more than 90% of the country's population. EdgePoint is a subsidiary of Digital Colony, the world's largest digital infrastructure investment firm.
"This is one of the largest -- if not the largest -- recent tower transactions in Asia," said senior international counsel Matthew Goerke. "We're delighted to have helped the client complete such an impressive transaction in a very short timeframe."
"Indonesia has high internet penetration and is arguably the fastest growing market for mobile e-commerce and other digital platforms in the region," said Hiswara Bunjamin & Tandjung partner Teguh Arwiko.
"This trend has only accelerated during the pandemic, and the market for software, apps and digital infrastructure is incredibly active, with both regional and local investment interest in consolidation opportunities."
Matthew and Teguh led the team advising PT Indosat Tbk, assisted by associates Maydiba Thandi, Cahya Buana Arief and Andrew Gadd. Associates Novita Wulandari and Chris Megananda helped lead a large vendor due diligence team including Zahra Suhirta, Intan Fauzia, Dessy Arisanti, Gregorius Wibisono, Rizky Putra, Alyssa Ghassani and Marcella Leoni.
