TPG, Northstar consortium sells 19.9% stake in BFI Finance

16 August 2018 12:00

JAKARTA - Italian consumer credit service provider Compass Banca has acquired a 19.9% stake in PT BFI Finance (BFIN) from a consortium that includes TPG Capital and Northstar Group.

In an official release quoted by DealStreet Asia, Compass Banca, a subsidiary of Italian investment bank Mediobanca, said the investment in BFIN represents a significant value option as it sees Indonesia as a “second market with great potential distinguished by its strong growth, high margins, and low risk profile”.

The deal with Compass Banca is expected to further complicate an ongoing legal dispute involving PT Aryaputra Teguharta (APT), which claims to be the owner of a 32.32% stake in BFIN.

In a recent press release, it warned Mediobanca and Compass Banca that they will face legal consequences and may be deemed as ‘bad faith’ parties if they proceed to buy a stake in BFIN. (MS)

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