JAKARTA – PT Iforte Solusi Infotek (iForte) in under process of acquiring 90.11% of PT Inti Bangun Sejahtera Tbk (IBST), primarily owned by PT Bakti Taruna Sejati (BTS). Iforte is known to be a subsidiary of PT Protelindo, the subsidiary of PT Sarana Menara Nusantara Tbk (TOWR).

Hartono Tanuwidjaja, Director of iForte, mentioned that the acquisition of BTS’s portion in IBST was done through a tender process, won by Protelindo, iForte’s parent entity.

“The acquisition of IBST is aimed to develop business and extend network in order to strengthen business in telecommunication infrastructure digital sector,” Tanuwidjaja said in the information disclosure quoted Wednesday (5/6).

As of now, the transaction value and the deadline of this share acquisition have yet to be determined, as the acquisition is still under negotiation process. iForte will then become the controller of IBST, then hold a mandatory tender offer, once the plan has been concluded.

As of April 2024, IBST reported 1.35 billion shares, 79.88% of which are owned by BTS. PT Dian Swastatika owns another 8.5%, Inovasi Mas Mobilitas 0%, and the public 11.62%. The ultimate beneficial owner of IBST’s shares is Farida Bau.

In 2023, IBST recorded revenue of IDR 1.10 trillion, a slight climb from IDR 1.08 trillion in 2022. Its current year’s net profit also slowed down to IDR 38.29 billion from IDR 41.52 billion. (LK/ZH)