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.

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