US private equity firm Texas Pacific Capital (TPG.UL) and Singapore sovereign wealth fund GIC (GIC.UL) invested 2.99 trillion rupiah ($435 million) for a stake in an Indonesia coal contractor, two sources with knowledge of the deal said on Sunday.

TPG and GIC have bought non-voting shares in Northstar Tambang Persada, a special purpose vehicle which owns 40% in PT Delta Dunia Makmur (DOID.JK), according to a statement to Indonesia’s stock exchange, following a report in the Financial Times on Dec 18 about the deal.

Delta Dunia is owned PT Bukit Makmur Mandiri Utama, Indonesia’s second largest coal contractor.

The transaction was conducted early this month when they bought 2.72 million shares of Delta Dunia for 1,100 rupiah a share, one source told Reuters.

TPG and GIC bought the shares from the Widjaya family, which controls conglomerate Sinar Mas Group, and the Bakrie Group, the source added.