Printer Friendly

CVC, PT Multipolar reportedly shed Matahari stake for USD1.3bn.


22 March 2013 - UK private equity firm CVC Capital Partners Ltd and Indonesian company PT Multipolar Tbk have sold 1.17bn shares in retailer PT Matahari Department Store Tbk for a total of IDR12.66trn (USD1.3bn/EUR1bn), according to insiders cited by Reuters on Friday.

The shares were sold at IDR10,850 apiece, close to the mid-market range, the informed sources told the news agency.

The stock placement was run by CIMB Bank, Morgan Stanley (NYSE:MS) and UBS AG (NYSE:UBS), as joint global coordinators.

With this move, CVC, which acted through one of its units, makes a profit of one of its early southeastern Asia investments.

Active since 1958, Matahari runs 116 stores in Indonesia, its website shows.Country: IndonesiaSector: Wholesale/RetailTarget: Matahari Department Store TbkBuyer: Unnamed investors.Vendor: PT Multipolar Tbk, CVC Capital Partners LtdDeal size in USD: 1.3bnType: DivestmentStatus: SpeculationComment: Deal size is speculated.

COPYRIGHT 2013 Normans Media Ltd.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2013 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:M & A Navigator
Date:Mar 22, 2013
Previous Article:KBC, Santander sell BZ WBK stock for USD1.5bn.
Next Article:Resource Ventures intends to buy Slovakian solar power operations.

Terms of use | Privacy policy | Copyright © 2021 Farlex, Inc. | Feedback | For webmasters