ILLUSTRATION. Protelindo has signed a sale and purchase agreement to acquire 90% stake in Solusi Tunas Pratama (SUPR). Photo: Doc.Protelindo
Reporter: Herry Prasetyo | Editor: A. Harry Prasetyo
KONTAN.CO.ID – JAKARTA. A subsidiary of PT Sarana Menara Nusantara Tbk (TWOR), PT Professional Telekomunikasi Indonesia (Protelindo) will acquire a 90% stake in PT Solusi Tunas Pratama Tbk (SUPR).
If the purchase of SUPR’s shares is realized, Protelindo will automatically become the new controller of SUPR and therefore must hold a tender offer.
On September 4, Proteindo signed a sale and purchase agreement (PJB) aka sale and purchase agreement with 14 parties who are the selling parties of Solusi Tunas Pratama shares.
Acting as sellers in this proposed transaction are PT Kharisma Indah Ekaprima, Cahaya Anugerah Nusantara Holdings Limited, Pioneering Networks Investments, Fajarindo Nusantara Holdings, and Perdana Indonesia Holdings.
Then, Uniperkasa Indonesia Investments, Nusantara Connectivity Bentures, Puncak Pratama Holdings Limited, Clearwater Insight Investments, and Grow Abadi Holdings Limited. Then Sentral Nuantara Holdings LImited, Great Archipelago Capital, Evergreen Digital Capital, and Towering Heights Investments Limited.
In the disclosure of information on the Indonesia Stock Exchange (IDX), Protelindo Corporate Secretary Maya Mercella said that the purpose of the SUPR acquisition plan is to develop the company’s business and expand its business network. It is hoped that this development and expansion can strengthen the company’s position as an independent tower owner and operator in order to serve Indonesian telecommunications operators.
In connection with the acquisition of SUPR’s shares, Protelindo was previously declared the winner of the tender for a four-month tender process.
Depending on all the conditions and requirements in PJB, this acquisition plan is targeted to be completed no later than 20 working days after the date of PJB.
Maya asserted, as of the date of the negotiation announcement released today, Protelindo does not own SUPR’s shares either directly or indirectly.
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If this acquisition plan is realized, it will result in a change of control over Solusi Tunas Pratama. This means that Protelindo will later become the controlling shareholder of SUPR.
Maya said, if the acquisition plan has been completed, Protelindo will carry out a mandatory tender offer mandatory tender offer in accordance with the provisions of the Financial Services Authority Regulation (POJK) Number 9 of 2018.
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