Jakarta - PT XL Axiata Tbk (EXCL) took over 51% of the shares of the internet service provider, PT Hipernet Indodata (HI).

XL marked this takeover by signing a conditional purchase agreement with Bridgefield Prime Investments Pte Ltd, Ameisys Global Technologies Pte Ltd, PT Mitra Indo Asia, and PT Magna Karya Achipelago as HI shareholders on 22 March 2022.

"With the signing of this share purchase agreement, XL will own 51% of HI shares or 2,805 shares with a transaction value of Rp321.3 billion," said XL Corporate Secretary Ranty Astari Rachman in information disclosure on Wednesday (3/23).

According to him, the takeover of shares aims to increase the range of products offered by the company to company customers.

"Thus, the planned takeover will increase the range of products offered to enterprise customers," he added.