Northstar, GIC in $200m Indonesian oil deal
Northstar Pacific Partners and Government of Singapore Investment Corporate (GIC) have reportedly invested $200 million in Triputra Agro Persada, an Indonesia oil producer. It isn’t the first time the two have co-invested in natural resources deal, but it comes as weakening Chinese demand is takes the air out of Indonesia’s commodities boom.
According to the Financial Times, Northstar and GIC have acquired a minority stake through a combination of equity and convertible bonds, and they have the right to inject a further $50 million into the...
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