Mitsubishi UFJ Said to Approach TPG About Indonesia Bank

Mitsubishi UFJ Financial Group Inc. is among banks considering a purchase of TPG Capital’s $1.6 billion stake in Indonesia’s PT Bank Tabungan Pensiunan Nasional, two people with knowledge of the matter said.

Bank of Tokyo-Mitsubishi UFJ, a unit of Japan’s largest publicly traded lender, has sounded TPG out on its plans for the stake, though the companies aren’t in formal talks, said the people, who asked not to be identified because the deliberations are private. TPG, which first invested in BTPN in 2007, hasn’t decided what to do with the holding and is considering options including a public offering of the shares, one person said.