JAKARTA (Yosefardi) – PT XL Axiata Tbk (EXCL) has bagged loan of US$500 million, equivalent Rp5.81 trillion, from its parent company Axiata Group, to fund the acquisition over PT Axis Telekom Indonesia from Teleglobal Investment BV.
The loan agreement was signed in March 10, 2014. The Business Competition Supervisory Commission (KPPU) has approved the merger of EXCL and Axis.
“We had received approval letter (from KPPU) in March 6, 2014,” said Murni Nurdini in a statement today (March 10).
EXCL had acquired 95% Axis shares for a cash consideration of US$100, but EXCL will procure the repayment of Axis’ debts of around US$865 million.