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November 17, 2010

INDONESIA: Wal-Mart, Casino, Lotte “in running for Hypermart”

Wal-Mart Stores, France's Casino and South Korea's Lotte Shopping have all reportedly advanced to the next round of bidding for Indonesian retailer Matahari Putra Prima's hypermarket business.

Wal-Mart Stores, France’s Casino and South Korea’s Lotte Shopping have all reportedly advanced to the next round of bidding for Indonesian retailer Matahari Putra Prima’s hypermarket business.

The auction of the US$1bn business has also drawn interest from private equity group Carlyle Group, Reuters reported today (17 November), but sources said the group did not make it to the second round.

South Korea’s Shinsegae Co is also understood to have expressed an interest.Indonesian conglomerate Matahari Putra Prima is said to be selling Hypermart to focus on its core healthcare and property assets.

The Hypermart chain of 38 stores is valued at around US$1bn, according to reports.

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