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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