View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
November 4, 2010

INDONESIA: Wal-Mart “joins bidding” for Hypermart

Wal-Mart Stores has reportedly joined the bidding for Indonesian retailer Hypermart.

Wal-Mart Stores has reportedly joined the bidding for Indonesian retailer Hypermart.

The US retail giant is expected to compete in an auction for the chain with South Korea’s Lotte Shopping and private-equity fund Carlyle, Reuters reported.

According to the reports it is not understood if Wal-Mart has submitted a formal offer but the sources say that it has hired Barclays Capital to advise it on the transaction.

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.

Related Companies

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A weekly roundup of the latest news and analysis, sent every Friday. The industry's most comprehensive news and information delivered every other month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Just Food