Asia Awards: Exit of the Year – Matahari Department Store
Two substantial partial exits that can be seen to justify the Indonesia investment thesis for global PE firms were among those nominated for Exit of the Year: TPG Capital and Northstar Group’s agreed sale of more than 30% of Bank Tabungan PensiunanNasional to Sumitomo Mitsui Banking Corp. and CVC Capital Partners public placement of shares in Matahari Department Store.
Matahari prevailed with the voters, much as it has with investors since the March offering. The stock is trading at IDR11,050, up marginally on the sale price, and has held steady during a period in which...
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