Private equity firms including Warburg Pincus are vying with suitors across Asia for control of a TPG-backed Indonesian consumer finance company, people with knowledge of the matter said.
Taiwan’s Cathay Financial Holding Co. and South Korea’s Shinhan Financial Group Co. are among first-round bidders for a stake in PT BFI Finance Indonesia, said the people, who asked not to be identified because the details are private. Bloomberg News was first to report in September that Trinugraha Capital, whose investors include TPG, is seeking a sale of its 43 percent holding.
