(MENAFN) Qatar Telecom Indonesian unit has sealed a sale and leaseback deal with Tower Bersama Infrastructure, Reuters reported.
Indosat said that the USD406 million deal covers 2,500 towers, and will be funded using cash and newly-issued shares worth 5 percent of TBIG's enlarged share capital.
Indosat will use the proceeds from the sale to repay outstanding debt and to finance investment and other general corporate purposes.
Shareholders of TBIG, as well as bondholders and lenders of Indosat, have approved the transaction.
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