IBS Owner Is Said to Be Nearing Sale of Tower Unit to Protelindo
- An agreement on sale could be announced in the coming weeks
- Jakarta-listed IBS has a market value of about $336 million
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The owner of PT Inti Bangun Sejahtera is close to selling a controlling stake in the telecom tower company to PT Profesional Telekomunikasi Indonesia, according to people with knowledge of the matter.
PT Bakti Taruna Sejati, an investment vehicle controlled by IBS President Commissioner Farida Bau, is working out details of a sale and purchase agreement that may be wrapped up in the coming weeks, the people said, asking not to be identified as the process is private. Bakti Taruna owns about 80% of IBS, data compiled by Bloomberg show.