- Reuters•7 months ago
SINGAPORE/JAKARTA, Dec 11 (Reuters) - Indonesia's Salim group, headed by the country's third-richest man Anthoni Salim, is raising $1 billion from a group of private equity firms including Northstar Group and TPG partly to repay debt, two people with knowledge of the matter said. Gateway Management, a Singapore-based fund backed by former Standard Chartered bankers, will also participate in the fundraising, which will be backed by Salim Group's Hong Kong-listed investment firm First Pacific Co Ltd, the sources said, declining to be named as the matter remained confidential. The financing is structured to give investors access to shares in Salim Group companies including Indomaret, a minimarket operator owned by PT Indomarco Prismatama, the sources said.
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