JAKARTA – PT Sarana Menara Nusantara Tbk (TOWR), a telecommunications company owned by the Djarum Group, is set to acquire a 40% stake in PT Remala Abadi Tbk (DATA).

The acquisition will be carried out by TOWR through one of its subsidiaries, PT Iforte Solusi Infotek, according to an official announcement in the media today.

All of the DATA shares to be acquired by Iforte are owned by Verah Wahyudi Singgih Wong and Jimmi Anka. It is worth noting that Verah Wahyudi Singgih Wong controls 80.48% of DATA’s shares, while Jimmi Anka holds only 3.20% of the shares.

“The purpose of this acquisition plan is to develop the business and expand the business network to strengthen the buyer group’s position in the telecommunications digital infrastructure sector,” stated Iforte’s Management in the official statement.

Once the acquisition is complete, Djarum Group, through Iforte, will become the controlling shareholder of DATA.

So far, Iforte and DATA have signed a binding sale and purchase agreement on 23 December 2024. Negotiations are still ongoing, but the value of the acquisition of DATA’s shares has not yet been disclosed.

As a note, DATA operates in the internet services, networking, and IT solutions business through fiber optic and wireless technologies. The company held its Initial Public Offering (IPO) on 7 May 2024, raising IDR51.7 billion. (KR/ZH)