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CVC to acquire stake in Indonesian gas co

Global private equity and investment advisory firm CVC Capital Partners is in negotiations to acquire a minority stake in Indonesian gas company PT Samator Indo Gas, according to a report by Bloomberg.

The size of the stake is reportedly 30% with an expected valuation of between $150 million and $200 million. A deal could potentially be agreed by the end of this quarter, although negotiations are said to be ongoing and the Harsono family, the current majority shareholder, could still decide not to proceed.

The Harsono family’s stake is held through PT Samator and PT Aneka Mega Energi, which own 40.5% and 25% of the listed entity, respectively, according to the company’s 2021 annual report.

The company’s stock price on the Indonesian stock exchange, was up 5.9% on Friday, bringing the company’s value to 6.6 trillion rupiah ($438 million).

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