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Bloomberg
Owners of PT Triputra Agro Persada, including Singapore’s sovereign wealth fund GIC Pte, are exploring a possible sale of the Indonesian palm oil producer, people with knowledge of the matter said.
Shareholders including Northstar Group have asked banks to pitch for a role advising the firm on options that also include an initial public offering, said the people, who asked not to be identified as details are private. Any deal could value the firm, part of Indonesian tycoon Theodore Rachmat’s Triputra Group, at about $1 billion, the people said.
Announced mergers and acquisitions involving Indonesian companies have more than doubled this year to $21.7 billion, according to data compiled by Bloomberg.