The Carlyle Group L.P. (NasdaqGS:CG) and Southern Capital Group are in talks to sell their majority stake in PT Solusi Tunas Pratama Tbk in a deal that could value the Indonesian telecoms tower operator at about $1 billion, three people familiar with the process said. The private equity firms have hired an adviser to find a buyer for their combined stake of nearly 69 per cent in Solusi Tunas Pratama Tbk PT in which they have been invested for more than five years, said the people. First-round bids for STP are due by end-August, the people said.

Depending on the interest from bidders, Carlyle and Southern Capital could still end up with a minority stake in STP, they said. Carlyle declined to comment and there was no response from Southern Capital to emails and phone calls.