OUE, together with Auric Capital Holdings, has launched a voluntary tender offer (VTO) to acquire up to 40% of the total issued and fully paid-up shares of Indonesia-listed Matahari Department Store at an offer price of IDR1,530 (14 cents) per share.

The VTO was launched by Auric Digital Retail (ADRPL), a joint venture company between OUE (who holds 40%) and Auric Bespoke I (ABIPL), a wholly-owned subsidiary of Auric Capital.

Evercore Asia (Singapore) has been appointed financial advisor for the transaction by ADRPL.

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Related Stories

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook