Buyout Firms Readying Sale of $1B Indonesia Tower Operator STP

8/17/17

Buyout firms Carlyle and Southern Capital Group are in talks to sell their majority stake in Solusi Tunas Pratama in a deal that could value the Indonesian telecoms tower operator at about $1 billion, three people familiar with the process said.

The private equity firms have hired an adviser to find a buyer for their combined stake of nearly 69 percent in Solusi Tunas Pratama Tbk PT (STP) in which they have been invested for more than five years, said the people.

STP is Indonesia’s third biggest independent telecoms tower operator and has a market value of 7.40 trillion rupiah ($553 million). Southern Capital-controlled local entities have a stake of 43.2 percent in STP and Carlye-owned entities have 25.5 percent.

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