US TPG To Acquire Stake In Indonesian Bank

February 2008 | M&A Analysis

PT Perusahaan Pengelola Aset (PPA) has announced it will sell a stake in PT Bank Tabungan Pensiunan Negara Tbk (BTPN) through an IPO in March worth IDR790.5mn (US$86mn). US Texas Pacific Group (TPG) is said to be acquiring a 71.61% stake in the bank upon completion of the IPO.

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