TPG Unit, Coal Tycoon Brothers Buy Stake In Telecom Co.

Law360, New York (February 27, 2013, 6:55 PM EST) -- A pair of billionaire Indonesian brothers have joined up with a unit of private equity titan TPG Capital to buy a sizable minority stake in wireless operator PT Hutchison CP Telecommunications, lifting ownership from Thai conglomerate Charoen Pokphand Group, Hutchison said Wednesday.

Hutchison's top brass announced a major shareholder change in Jakarta, outlining plans for coal tycoon Garibaldi Thohir and his brother, Erick Thohir, to team with the TPG affiliate to snatch a 35 percent stake in the company, according to local reports.

It was unclear...
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