White & Case Advises PT XL Axiata on US$267 Million Sale and Leaseback of Telecoms Towers in Indonesia
Global law firm White & Case LLP has advised PT XL Axiata TbK, one of the leading Indonesian telecoms providers, on the sale of 2,500 telecoms towers for 3.57 trillion Rupiah (US$267 million) to PT Profesional Telekomunikasi Indonesia (Protelindo), and on the leaseback of 2,433 towers by PT XL Axiata as the anchor tenant.
The transaction completed on June 30, 2016 following a competitive auction sale process. It is one of the largest M&A deals by value to have taken place in Indonesia in 2016. White & Case's lead role for PT XL Axiata on this major mandate demonstrates the Firm’s well-established presence in the region and market leading corporate and M&A capabilities.
The White & Case team in Singapore which advised on the transaction was led by partner Barrye Wall and local partner Jon Bowden with support from associate Charles Bailey.
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