Matahari Share Sale Valued at US$1.3 Billion (Asia)

Source: Reuters  |  Authors: Elzio Barreto and Stephen Aldred

Global private equity and investment advisory firm CVC Capital Partners and Indonesian investment holding company PT Multipolar Tbk have sold nearly half of their stake in Indonesian retailer Matahari Department Store for approximately US$1.3 billion. CVC and Multipolar reportedly sold around 1.17 billion shares in the Indonesia Stock Exchange-listed company for IDR10,850 (approximately US$1.12) per share. CVC originally invested in Matahari in April 2010.