Jun 9, 2011

Edwin, Sandiaga Uno dispose TBIG

Indonesian businessmen Edwin Soeryadjaya, Sandiaga Uno, Winato Kartono, dan Hardi Wijaya Liong sold 381.17 million of their holdings, or representing 8.3% in PT Tower Bersama Infrastructure Tbk (TBIG) for Rp848.1 billion to PT Wahana Anugerah Sejahtera and PT Provident Capital Indonesia, Investor Daily reported, citing Sandiaga Uno, as quoted by Bisnis.com today.
Wahana Anugerah Sejahtera and PT Provident Capital Indonesia are existing shareholders of Tower Bersama, a company that operates telecommunication infrastructure for lease to cellular operators. Soeryadjaya and Sandiaga are the founders of an investment company Saratoga Capital. 
Sandiaga disposed 63.52 million shares of Tower Bersama to Wahana Anugerah through crossing in negotiation market at the Jakarta Stock Exchange as well as Soeryadjaya who sold 127.05 million shares. Meanwhile Provident Capital received 127.05 million shares from Kartono and 63.52 million shares from Liong.
Saratoga built Tower Bersama Group, starting from a small company with seven telecommunication sites into Indonesia’s second largest independent tower operator with 2,700 telecommunication sites serving over 4,000 tenants.
Tower Bersama Group serves customers including Indonesia’s telecommunication operators, including Telkom, Telkomsel, Indosat and XL. The company listed its stocks on the Indonesian Stock Exchange on October 26, 2010.

Disclosure: No position at the stock mentioned above.

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