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December 3, 2010

INDONESIA: “Four firms in running” for Matahari

Indonesian retailer Matahari has said that four firms, including Lotte Shopping, are interested in investing in its hypermarket business, according to reports.

Indonesian retailer Matahari has said that four firms, including Lotte Shopping, are interested in investing in its hypermarket business, according to reports.

According to Reuters, Matahari said yesterday (2 December) that the four companies are interested in investing in the company as a majority shareholder and becoming a partner to expand its Hypermart hypermarket unit.

“Management is happy … for the interest from several global retailers to invest and become a partner,” said Daniel Kojongian, a director at Matahari.

According to earlier reports, Wal-Mart Stores, Casino and South Korean retailer Shinsegae Co are also in the running to acquire the retailer.

 

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