OUE in tie-up to acquire controlling stake in Indonesian retailer Matahari
SINGAPORE (THE BUSINESS TIMES) - Property developer OUE on Wednesday morning (May 5) announced it had established a joint venture (JV) company to acquire up to a 40 per cent stake in Jakarta-listed PT Matahari Department Store Tbk (Matahari). Named Auric Digital Retail, the JV firm will be 60 per cent owned by Auric Bespoke I, a wholly owned subsidiary of Auric Capital Holdings, with the remaining 40 per cent stake held by OUE subsidiary OUE Retail Holdings. The acquisition will be made by way of a voluntary tender offer for Matahari for a consideration of 1,530 rupiah (S$0.14) per offer shar...
Source: straitstimes.com