CVC AP makes Indonesia retail play
CVC Capital Partners Asia Pacific (CVC AP) caught the market off-guard as it came to light that its Indonesia venture had purchased the department store arm of PT Matahari Putra Prima for 7.2 trillion rupiah ($773 million).
With CVC AP taking a controlling stake in a JV alongside the only other shareholder, the original owner, the deal further supports the Indonesia consumer story, which continues to frame deals in the country...
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