CVC Capital Partner Acquires Minority Stake Worth USD 155M In Indonesia's PT Samator Indo Gas

By: Asia Business Outlook Team | Thursday, 16 March 2023

CVC Capital Partner announced on Thursday that it had purchased a "minority stake" in Indonesian gas company PT Samator Indo Gas from existing shareholders for $155 million.

The transaction is CVC's eighth investment in Indonesia, the largest economy in Southeast Asia, since 2010, according to a statement. Other CVC investments in Indonesia include Siloam International Hospitals and retailer MAP Aktif Adiperkasa, according to the company's website.

Following CVC's entry, Samator Indo Gas intends to expand further, including the construction of a new plant in Kawasan Industri Terpadu Batang in Central Java, according to the statement, which did not specify how much stake CVC acquired.

Samator Indo Gas, formerly Aneka Gas Industri, aims to achieve a double-digit net profit margin in the next two to three years.

According to CVC, UBS served as the transaction's sole financial adviser.

CVC Capital Partners is a Luxembourg-based private equity and investment advisory firm that has managed approximately US$133 billion in assets under management and €157 billion in secured commitments across American, European, and Asian private equity, secondaries, and credit funds since its inception. As of December 31, 2021, the funds managed or advised by CVC were invested in over 100 companies around the world, employing over 450,000 people in a variety of countries.