TPG, Northstar reach share-swap agreement
TPG and Northstar Pacific, the Indonesian buyout group with which TPG already has strong ties, are to do a share swap. TPG will take a 10-20% stake in Northstar, which will then receive a less than 5% interest in the US firm, The Financial Times reported.
The transaction is intended to improve TPG's access to deals in Southeast Asia, but it is unusual not only because such deals are a rarity but also because TPG already has longstanding and profitable ties...
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