Report
XL Axiata Tbk PT
Grha XL
Jl.DR.Ide Ank Agng Gd Agng Lt E4-7 No.1
Phone: +62 2157959817p:+62 2157959817 JAKARTA SELATAN, 12950  Indonesia Ticker: EXCLEXCL
This is a Subsidiary, click here for the Parent Company

Axiata to sell 5pc stake in Indonesian telco unit


KUALA LUMPUR: Axiata Group Bhd, via indirect wholly owned Axiata Investments (Indonesia) Sdn Bhd, is disposing of 533.41 million shares representing about a five per cent stake in PT XL Axiata Tbk for RM423.5 million.

Axiata said in a filing to Bursa Malaysia yesterday Axiata Investments has entered into a sale and purchase agreement (SPA) with Ferrymount Investments Ltd, Procap Partners Ltd and Tiga Investments Pte Ltd for the disposal.

Prior to the disposal, Axiata Investments held a 66.5 per cent stake in XL, which is listed on the Indonesia Stock Exchange.

Procap and Tiga Investments, acting as guarantors, will unconditionally and irrevocably guarantee the discharge by the buyer of its obligations under the SPA, said Axiata.

“The completion of the SPA will take place one month from the date of the SPA or such other date as agreed in writing by the parties. The disposal does not require the approval of the shareholders of Axiata or any regulatory authorities.” Axiata said the disposal facilitates the timely introduction of Indonesia-focused investors in XL who acknowledge the value and opportunities in the domestic telecommunication sector.

“The principals of Procap and Tiga Investments have extensive knowledge, experience, business partnerships and investments in Indonesia, as well as in global capital markets.

“Axiata is of the view that the disposal, which provides XL with access to the aforesaid business partnerships of Procap and Tiga Investments among others, will place XL in a better operational footing in the near future.” At the same time, Axiata said Procap and Tiga Investments’ linkages to the Indonesian digital ecosystem will enable XL to actively engage and further develop its digital and value-added services to offer to its 58 million customers.

Related Businesses
- - Customer
Copyright © 2024 by CreditRiskMonitor.com (Ticker: CRMZ®). All rights reserved.  You are not permitted to use this report or the information contained herein for any purpose not expressly permitted by CreditRiskMonitor.com, Inc. Except as expressly permitted by CreditRiskMonitor.com, Inc., you are not permitted, in whole or in part, to copy, alter, correct, adapt, translate, enhance, lease, sell, sublicense, assign, distribute, publish, otherwise make available to any third party, or prepare derivative works or improvements of this report or any of the information contained therein. You are not permitted to reverse engineer, disassemble, decompile, decode, or adapt the software, algorithms or other processes used to prepare this report, or otherwise attempt to derive or gain access to the source code of same. You agree not to remove, alter, obscure, combine or otherwise change any disclaimers, trademarks, copyrights, other intellectual property rights, proprietary rights, or other symbols, notices, marks, or serial numbers on or relating to any copy of the report or on marketing or other materials that CreditRiskMonitor.com, Inc. may provide to you. You will not use this report in any manner or for any purpose that infringes, misappropriates, or otherwise violates any right of any party, or that violates any applicable law.  
The FRISK® scores, agency ratings, credit limit recommendations and other scores, analysis and commentary are opinions of CreditRiskMonitor.com, Inc. and/or its suppliers, not statements of fact, and should be one of several factors in making credit decisions.  Any reliance you place on the information in this report is strictly at your own risk. Except as expressly provided by CreditRiskMonitor.com, Inc., no warranties or representations of any type, including without limitation of results to be obtained, merchantability or fitness for a particular purpose, are made concerning any part of CreditRiskMonitor.com, Inc.’s service, including without limitation the FRISK® scores.  The information published above has been obtained from sources CreditRiskMonitor considers to be reliable.  CreditRiskMonitor.com, Inc. and its third-party suppliers do not guarantee or validate the accuracy and completeness of the information provided in this report, the underlying information input to create the FRISK® scores, and specifically do not assume responsibility for not reporting any information omitted or withheld.  By using this website, you accept the Terms of Use Agreement. 
Contact Us: 845.230.3000
Fundamental financial data concerning public companies may be provided by Refinitiv (click for restrictions)
Friday, April 26, 2024