SINGAPORE (Dec 13): Metro Holdings is selling its entire 50% stake in PT Metropolitan Retailmart (PT MRM) to its JV partner PT Trans Corpora for $25 million.

PT MRM operates 11 Metro stores in Jakarta, Bandung, Surabaya, Makassar, Solo and Manado.

Following completion of the deal, PT Trans Corpora, which currently owns the remaining 50% stake in PTMRM through an affiliated associate, will own 100% of the departmental store.

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