Today’s Transactions:
Northstar Buys Majority Stake in Nera

Indonesia's largest PE firm intends to acquire all of the satellite communications company for roughly $146M

Northstar Group, the largest private equity firm in Indonesian, is set to acquire a majority stake in Nera Telecommunications Ltd. (SGX: N01) for S$88.8 million ($72.6 million).

Eltek ASA (OSE: ELT), based in Drammen, Norway, agreed to sell a 50.05 percent interest in the Singapore-based satellite communications company. Northstar said it plans to follow-up with a purchase of the remaining shares in a mandatory unconditional cash offer, totaling about $146 million.

Northstar, which facilitated the deal through subsidiary Asia Systems Ltd, is headquartered in Jakarta and operates as a unit of TPG Capital LP.

The firm has $1.2 billion in assets under management. In 2011, Northstar raised Indonesia's largest private equity fund of $820 million.


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