CVC to cash in on Indonesia investment

CVC to cash in on Indonesia investmentUK-based investment firm CVC Capital Partners intends to sell a 40 per cent stake in Indonesia’s largest department store operator Matahari, according to a sales document submitted to the Indonesia Stock Exchange.

CVC, which is offering the shares publicly in a deal that could become the largest equity offering in Indonesia in almost five years, will likely raise up to $1.4 billion from BlackRock Asset Management, Fidelity Investments, Morgan Stanley and Goldman Sachs Investment Partners and more than a dozen other investors, including  Malaysia’s Employees Provident Fund, Temasek, Government of Singapore Investment Corp and George Soros’s investment company Quantum Partners, who have agreed to buy shares.

CVC has entered the investment in April 2010 and now owns around 80 per cent of Matahari, while Indonesia’s Riady family, the owners of Lippo Group, a conglomerate whose interests include property, retailing, media, health care and hospitality, owns most of the rest of the department store chain’s shares, while a mere 2 per cent are free-float.

Matahari is Indonesia’s largest department store chain by value of sales, with 32 per cent market share. The chain, which sells affordable fashion and cosmetics, has 116 stores in 50 cities across Indonesia.

 



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UK-based investment firm CVC Capital Partners intends to sell a 40 per cent stake in Indonesia’s largest department store operator Matahari, according to a sales document submitted to the Indonesia Stock Exchange. CVC, which is offering the shares publicly in a deal that could become the largest equity offering in Indonesia in almost five years, will likely raise up to $1.4 billion from BlackRock Asset Management, Fidelity Investments, Morgan Stanley and Goldman Sachs Investment Partners and more than a dozen other investors, including  Malaysia’s Employees Provident Fund, Temasek, Government of Singapore Investment Corp and George Soros’s investment company Quantum Partners, who...

CVC to cash in on Indonesia investmentUK-based investment firm CVC Capital Partners intends to sell a 40 per cent stake in Indonesia’s largest department store operator Matahari, according to a sales document submitted to the Indonesia Stock Exchange.

CVC, which is offering the shares publicly in a deal that could become the largest equity offering in Indonesia in almost five years, will likely raise up to $1.4 billion from BlackRock Asset Management, Fidelity Investments, Morgan Stanley and Goldman Sachs Investment Partners and more than a dozen other investors, including  Malaysia’s Employees Provident Fund, Temasek, Government of Singapore Investment Corp and George Soros’s investment company Quantum Partners, who have agreed to buy shares.

CVC has entered the investment in April 2010 and now owns around 80 per cent of Matahari, while Indonesia’s Riady family, the owners of Lippo Group, a conglomerate whose interests include property, retailing, media, health care and hospitality, owns most of the rest of the department store chain’s shares, while a mere 2 per cent are free-float.

Matahari is Indonesia’s largest department store chain by value of sales, with 32 per cent market share. The chain, which sells affordable fashion and cosmetics, has 116 stores in 50 cities across Indonesia.

 



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

$
Personal Info

Donation Total: $10.00

 

 

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