Taiwan's Cathay Financial Holding Co. Ltd. and South Korea's Shinhan Financial Group Co. Ltd. are among the interested parties for a stake in PT BFI Finance Indonesia Tbk, Bloomberg News reported March 6, citing "people with knowledge of the matter."
Private equity firms including Warburg Pincus LLC and Baring Private Equity Asia are also reportedly interested in a stake in the Indonesian consumer finance company.
Trinugraha Capital is seeking to sell a 43% stake in BFI Finance. The TPG Capital Management LP-backed firm has received at least 10 bids for the stake, sources said.
Representatives for Baring Private Equity Asia, BFI Finance, Cathay Financial, Shinhan Financial, TPG and Warburg declined to comment on the matter, Bloomberg reported.
