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Carlyle nearing first SE Asia deal with Indonesia telecom investment

25 Oct 2012

Global buyout house Carlyle is said to be nearing its first South East Asian investment with the purchase of a 25 per cent stake in an Indonesian telecom tower operator.

The firm hopes to pick up the share in publically-traded Solusi Tunas Pratama (STP) for about $100m, according to Reuters, which cited sources with knowledge of the deal.

The deal is not Carlyle’s first effort at investing in Southeast Asia, the report said, citing a previous auction in which it attempted to buy a minority stake in Indonesian packaged food company GarudaFood Group.

STP was launched in 2006 to take advantage of expected continued growth in the Indonesian wireless communication industry.

The company has a market value of $360m and 1,322 towers, mostly around the capital Jakarta, according to its website.

In March this year private equity-backed Indonesian telecommunications operator Tower Bersama Infrastructure sold eight per cent of its shares on the secondary market.

Saratoga Capital subsidiary Saratoga Infrastruktur held a 25.83 per cent stake in the company prior to the transaction, while Provident Capital Indonesia and Wahana Anugerah Sejahtera each held 25.1 per cent.

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