Providence Equity Partners has agreed to sell its stake in KIN, a telecommunications infrastructure provider in Indonesia, to Protelindo. No financial terms were disclosed.
LONDON and JAKARTA, March 21, 2018 – Providence Equity Partners (“Providence”), a premier global private equity firm, today announced that it has entered into definitive agreements to divest its economic interest in PT Komet Infra Nusantara (“KIN”), a leading integrated telecommunications infrastructure provider in Indonesia, to PT Profesional Telekomunikasi Indonesia (“Protelindo”).
In 2014, Providence made the investment in PT Telekom Infranusantara, a subsidiary of PT Nusantara Infrastructure (“PTNI”), which is also selling its stake in KIN to Protelindo. Together with PTNI, Providence founded KIN and oversaw its stable growth into one of the region’s leading independent providers of telecommunications services.
About PT Komet Infra Nusantara (“KIN”)
PT Komet Infra Nusantara (KIN) is an established telecommunications infrastructure provider in Indonesia and currently owns approximately 1,400 towers and more than 2,000 tenants. For more information, please visit kin-towers.com.
About Providence Equity Partners (“Providence”)
Providence is a premier global private equity firm with more than $54 billion in capital under management. Providence pioneered a sector-focused approach to private equity investing with the vision that a dedicated team of industry experts could build exceptional companies of enduring value. Since the firm’s inception in 1989, Providence has invested in more than 160 companies and is the leading equity investment firm focused on the media, communications, education and information industries. Providence is headquartered in Providence, RI, and also has offices in New York and London. For more information, please visit www.provequity.com.
About PT Profesional Telekomunikasi Indonesia (“Protelindo”)
PT Sarana Menara Nusantara Tbk. (“SMN”) was established in June 2008 with a primary focus to invest in operating companies that specialize in owning and operating telecommunication towers for wireless operators. SMN’s activities are conducted through its subsidiary, PT Profesional Telekomunikasi Indonesia (“Protelindo”). 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”.