CVC In IDR7.2trn Matahari Department Store Buyout

UK-based private equity firm CVC Capital Partners is to acquire a 91% stake in Indonesia's Matahari Department Stores (MDS), a subsidiary of retail group Matahari Putra Prima, in a deal worth IDR7.2trn (US$768mn). Indonesia's largest ever private equity deal, the relatively high value of the purchase of the 88-outlet-strong network, has been attributed to the country's sustained economic growth, rapid middle class emergence, improved political stability and strong recent retail sales

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