
Jakarta, Indonesia (News Today) - Giant retailer PT Matahari Putra Prima will retain and expand its Hypermart Food Retail business as a wholly-owned business division, a senior executive at the company said in a statement Monday.
“In order to enhance and maximize Matahari's shareholder value, we would like to bring in a strong global partner and are determined to retain and grow our Hypermart business and to streamline other non-core operations,“ said Matahari President Director Benjamin Mailool.
“We welcome the interests of global players to invest or acquire a substantial interest in Matahari Putra Prima. But it is important to note at this moment that there is no assurance that any of the plans will materialize,“ he added.
Matahari's statement follows news on Friday that South Korean retail giant Lotte Shopping Co. has submitted a bid for a majority stake in the company's hypermarket operations in Indonesia.
In November, a person familiar with the planned stake sale told Dow Jones that Matahari had short-listed Lotte Shopping, Wal-Mart Stores Inc. and France's Casino Guichard-Perrachon SA for the purchase of its hypermarket operations.
Source : kompas
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