The shares of PT Tower Bersama Infrastructure Tbk (IDX: TBIG) traded with worth of Rp536.53 billion (US$38.05 million) on Thursday, (10/17) - Photo: Special

JAKARTA (TheInsiderStories) – PT Profesional Telekomunikasi Indonesia (Protelindo), a company owned by Djarum Group, will take over tower assets of PT Nusantara Infrastructure Tbk (IDX: META)  following the sale of META’s subsidiary shares, PT Komet Infranusantara, to Protelindo.

Based on the sale and purchase agreement (SPA) signed on Friday (23/3), Telekom Infranusantara sold its 1.31 billion shares in Komet Infranusantara for approximately Rp 1.05 trillion.

META will use the funds generated from the sale of these shares to invest in other fields, with a focus on developing water management sector or water treatment as well as energy business.

Protelindo was established in January 2003 and has become the largest independent owner and operator of towers for wireless operators in Indonesia. Protelindo’s primary business is leasing space at its multi-tenant tower for all major wireless operators in Indonesia under long-term lease agreements.

Protelindo owns and operates over 14,500 towers in Indonesia. On March 8, 2010, SMN completed an initial public offering of its shares and is now listed on the Indonesian Stock Exchange (IDX) under the ticker symbol “TOWR”.

Meanwhile, Indonesian telecom infrastructure provider Sarana Menara Nusantara (SMN), the parent company of Protelindo, has announced plans for a full-year 2017 dividend payment of Rp1.2 trillion. The proposed total dividend will be subject to approval at the annual general meeting of shareholders to be held no later than May.

SMN paid its first dividend totaling Rp700 billion for the fiscal year 2016. The planned 2017 total dividend of Rp1.2 trillion includes the interim 2017 dividend of Rp306 billion paid in December 2017.

Written by Elisa Valenta, email: