CVC opts for partial exit from Matahari via public markets – report
CVC Capital Partners is expected to exit about 40% of its holding in Matahari Department Store through a public market sale that will raise up to $1.5 billion. The private equity firm, which controls the Indonesian retailer through a joint venture with previous majority owner Lippo Group, opted for a partial exit over selling its entire stake to a single investor.
According to Bloomberg, the share sale - potentially Indonesia's largest stock offering in five years - could take place as soon as March. It would value Matahari at more than $3 billion. CVC bought...
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