Hiswara Bunjamin & Tandjung (HBT), Herbert Smith Freehills’ Indonesia associate firm, has counselled cellular operator Telkomsel on its $434 million sale and leaseback of 4,000 telecom towers to mobile company Mitratel, which was advised by local firm Umbra.

Telkomsel is an Indonesian wireless carrier founded in 1995 by Telkom Indonesia and Singtel. In this deal, Telkomsel will transfer ownership of its towers to Mitratel, a subsidiary of one of its parent companies, then lease them back for use.

Partners Sakurayuki and Teguh Arwiko led the HBT team.

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