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SINGAPORE: Asia-focused telecoms tower firm Edotco Group<\/a>, its Malaysian parent Axiata<\/a> and a Japanese backer are in talks with investors for stake sales, in a deal that could raise about $1.2 billion, four sources familiar with the matter said.
The move comes as global infrastructure funds are pouring huge sums of money to acquire capital-intensive telecom infrastructure assets in Southeast Asia, seeing strong growth opportunities.
The sources said discussions are taking place for a minority stake to be sold in the decade-old Edotco<\/a>, which is 63% owned by Axiata. However, three of the sources said there was a possibility that Axiata could even consider giving majority control in order to secure a deal.
The sources declined to be identified as they were not authorised to speak to the media.
Axiata and Edotco declined to comment.
Two of the sources said cash-rich infrastructure funds such as U.S.-based Stonepeak and Global Infrastructure Partners, and a group led by Japanese trading firm Mitsui<\/a> & Co, are among potential buyers for the stake sales.
There was no immediate response from Mitsui, Stonepeak and Global Infrastructure Partners to Reuters queries sent during Asia hours.
Reuters is first to report on the identity of the potential buyers in the total stake sales worth about $1.2 billion and also the possibility of Axiata ceding majority control of Edotco.
The sources said the bulk of the proceeds from the share sales will likely fund Edotco's business expansion.
Innovation Network Corp. of Japan (INCJ), which became the tower company's second-biggest investor about six years ago with a $400 million investment or about a 20% holding, is also seeking to sell most of its stake.
When asked for a comment by Reuters on Friday, INCJ said it would respond next week. The state-backed fund had tried to sell down its stake in the last few years.
Edotco also counts Malaysian sovereign wealth fund Khazanah Nasional and pension fund KWAP among its investors.
While broader dealmaking activity has fallen sharply over the past year due to weak equity markets and rising interest rates, telecom tower assets have been a bright spot.
Besides its core markets of Malaysia and Bangladesh, Edotco has built up a portfolio of towers in Myanmar and Cambodia, forayed into Indonesia last year and bought assets in the Philippines, among others.
It has expanded the number of towers it operates and manages to 55,000, making it the world's sixth-largest tower company.
Axiata has been unsuccessful in its previous attempts to cut its stake in Edotco, partly due to sensitivities linked to Edotco's business in Myanmar, where top generals led a coup in 2021 after five years of tense power-sharing under a quasi-civilian political system that was created by the military.
The sources said complications surrounding any purchase of the Myanmar assets were a concern for some potential buyers, while there also muted interest for its tower businesses in Pakistan and Bangladesh.
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马来西亚Edotco支持者计划出售股份在炎热的电信市场
此举正值全球基础设施资金投入巨额资金,获得资本密集型的电信基础设施资产在东南亚,看到强劲的增长机会。
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新加坡:亚洲电信塔公司Edotco集团马来西亚的母公司,Axiata和一个日本支持者与投资者出售股份,交易可能筹集约12亿美元,四个知情人士说。
此举正值全球基础设施资金投入巨额资金,获得资本密集型的电信基础设施资产在东南亚,看到强劲的增长机会。
消息人士称,讨论发生的少数股权出售十年之久Edotco,这是由Axiata持有63%的股份。然而,三个消息说有一个可能性,Axiata甚至可以考虑给多数控制以达成协议。
消息人士拒绝透露姓名,因为他们没有授权向媒体发言。
Axiata和Edotco拒绝置评。
两位消息人士指出,美国等现金充裕的基础设施基金基于Stonepeak和全球基础设施合作伙伴和日本贸易公司牵头的一个集团三井& Co)是潜在买家出售股份。
三井没有立即回应,Stonepeak和路透社全球基础设施合作伙伴查询在亚洲时间发送。
路透社是第一个报告的潜在买家的身份股份总额价值约12亿美元的可能性也Axiata Edotco放弃控股权。
消息人士称大部分的收益分享销售可能会基金Edotco的业务扩张。
INCJ(日本创新网络公司),成为了第二大投资者大约六年前塔公司4亿美元的投资约20%,也在寻求出售其大部分股份。
当路透社周五要求评论的,INCJ表示,将下周回复。有政府背景的基金曾试图出售其股份在过去的几年里。
Edotco也计数马来西亚主权财富基金Khazanah Nasional KWAP和养老基金的投资者之一。
而更广泛的交易活动在过去一年大幅下降由于疲软的股票市场和利率上升,电信塔资产是一个亮点。
除了其核心市场的马来西亚和孟加拉国,Edotco已经建立了一个投资组合的塔在缅甸和柬埔寨,尝试到印尼去年在菲律宾和购买资产,等等。
它扩大了塔的数量55000年运营和管理,使其成为世界第六大塔公司。
Axiata已经成功在其先前试图削减Edotco股份,部分原因是敏感性与Edotco的业务在缅甸,在高级将领领导在2021年政变后五年的紧张分权下准文职政治体系是由军方。
消息人士称并发症周围缅甸的任何购买资产是一个关心一些潜在买家,同时也减弱了对其塔业务在巴基斯坦和孟加拉国。
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