OUE, Auric complete acquisition of controlling stake in Indonesia retailer Matahari with 32% stake

Atiqah Mokhtar
Atiqah Mokhtar7/15/2021 8:55 AM GMT+08  • 1 min read
OUE, Auric complete acquisition of controlling stake in Indonesia retailer Matahari with 32% stake
OUE and Auric Capital received 21.9% acceptances for their voluntary tender offer.
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OUE, along with joint venture partner Auric Capital, have completed their acquisition of a controlling stake in Indonesia-listed Matahari Department Store, collectively holding a 32% stake as of July 15. This makes it the single largest shareholder of Matahari.

The companies, via joint venture firm Auric Digital Retail (ADRPL) had launched a voluntary tender offer (VTO) in early May 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.

ADRPL is 60:40 owned by Auric Capital and OUE.

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