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CVC buys minority stake in Indonesian gas co

Private equity firm CVC Capital Partners has paid $155 million to acquire a “significant minority stake” in Indonesian gas company PT Samator Indo Gas from existing company shareholders, according to a press statement.

Following CVC’s investment, the Harsono family will continue to hold a majority stake in the business and retain control of the company.

CVC, which has €137 billion of assets under management, has made seven previous investments in Indonesia according to its website, including Siloam International Hospitals, and retailer MAP Aktif Adiperkasa.

PT Samator Indo Gas has several expansion plans in the near future, including an upcoming new plant in Kawasan Industri Terpadu Batang (KITB), Central Java, Indonesia, with construction set to start this month.

UBS acted as the exclusive financial adviser on the transaction.

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