Mar 16, 2011

Saratoga eyeing 55% stake in iForte

An investment company Saratoga Capital and also a 25.83% controlling shareholder in telecommunication tower operator PT Tower Bersama Infrastructure Tbk is considering to acquire 55% stake in PT iForte Solusi Infotek.
Sandiaga Uno, Managing Director of Saratoga Capital, confirmed that the company intends to buy iForte. 
"We can't disclose the acquisition value. But, we plan to buy iForte via Saratoga Capital," he said as quoted by Bisnis Indonesia today.
After completing the acquisition, iForte will become one of investment portfolios for Saratoga Capital in infrastructure business. iForte is a company focusing in wireless technology information. The company owns and manages broadband network solution and internet services. iForte plans to establish 1,000 units of micro base transceiver stations.
A source close to the matter said Saratoga is holding a due diligence on iForte which will be accomplished within 3-4 next months.

Disclosure: No position at the stock mentioned above.

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