CVC, PT Multipolar reportedly shed Matahari stake for USD1.3bn.
MANews-(C)2009-2013
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.
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| Publication: | M & A Navigator |
|---|---|
| Date: | Mar 22, 2013 |
| Words: | 153 |
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