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.
|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.|