May 19, 2011

Boy Thohir acquires BFI Finance

The number one executive of PT Adaro Energy Tbk, Boy Garibaldi Thohir acquired around 45% non-controlling shares of PT BFI Finance Indonesia Tbk through Trinugraha Capital & Co (TC&Co). 
Garibaldi Thohir leads a consortium that involve TPG Capital and Northstar Equity Partners, founded by former banker Goldman Sach Patrick Walujo, as an investor in TC&Co.
TPG Capital is one of global investment units of TPG, being established in 1992 with the total asset reaching US$48 billion.
In the meantime, Northstar Equity Partners is a financial investment company focusing in Indonesia while Trinugraha Capital & Co happens to be a financial company being established in Luxemburg.
BFI Finance is Indonesia’s largest independent multi-finance company, focusing on car, motorcycle and heavy equipment financing.
This particular transaction is Thohir’s second investment after founding PT Wahana Ottomitra Multiartha that is widely known as PT WOM Finance Tbk in 1997.
Thohir’s strong interest on BFI Finance is encouraged by the promising macro-economy prospect for Indonesia’s consumer financing industry in Indonesia.
At the moment, BFI Finance is being operated by experienced management team and happens to be the largest independent players in this sector.
Thohir expects his old experiences in this sector may give the best contributions to the company. With regard to such shares acquisition, Thohir shall earn representative chair in BFI’s Board of Directors. The required approval will be earned during the next general meeting of shareholders.
Boy Garibaldi Thohir is the President Director of PT Adaro Energy Tbk, Indonesia’s second largest coal mining. He also serves as the President Director of PT Trinugraha Thohir, President Director of PT Padangbara Sukses Makmur and President Commissioner of PT Wahana Ottomitra Multiartha Tbk (WOM Finance).

Disclosure: No position at the stock mentioned above.

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