INDONESIA: Trans Corp. "mulls listing" for Carrefour Indonesia
Carrefour's sales in Indonesia stood at EUR890m (US$1.1bn) in 2009
Trans Corp., a unit of Indonesia's Para Group and 40% shareholder in Carrefour Indonesia, has reportedly signalled its ambition to float the local unit of the French retailer.
Acording to Reuters, Trans Corp. revealed that it is in talks to acquire 100% of Carrefour Indonesia. The company would then look to list the retailer's shares on the Jakarta stock exchange.
Carrefour declined to comment on the reports and Trans Corp. officials were not immediately available for comment.
Carrefour Indonesia operates 79 stores in 22 cities, and plans to open 13 new stores in 2010.
Last month, the companies announced that Trans Corp would take a 40% stake in Carrefour Indonesia, while the French group would retain a controlling 60% holding.
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