PT Tower Bersama signed a Conditional Asset Sale and Purchase Agreement to acquire 3000 towers from PT Inti Bangun Sejahtera Tbk (IDX:IBST) for IDR 4 trillion on December 21, 2020. Transaction is subject to approval by shareholders of PT Inti Bangun Sejahtera Tbk and PT Tower Bersama Infrastructure Tbk (IDX : TBIG) parent of PT Tower Bersama and lender approvals. Completion is expected in the first quarter of 2021. On a proforma basis, this transaction will increase our EBITDA by approximately 10% and is immediately accretive. Teguh Arwiko and Andrew Gadd of Herbert Smith Freehills LLP acted as legal advisor to PT Inti Bangun Sejahtera Tbk. PT Tower Bersama completed the acquisition of 3000 Towers from PT Inti Bangun Sejahtera Tbk (IDX:IBST) on April 9, 2021.