Founder of Para Group, Chairul Tanjung, strengthens his retail business by acquiring a 40% stake in PT Carrefour Indonesia through PT Trans Retail.
Tanjung, the 937th richest country in the world, according to the March edition of Forbes magazine, spends more than US$300 million on the acquisition.
The other shareholders of the Carrefour following Tanjung's acquisition are Carrefour S.A (39%), Carrefour Nederland B.V (9,5%) and Onesia B.V (11,5%).
Chairul finances the acquisition with a loan of US$350 million from a consortium of four foreign banks, Credit Suisse, Citibank, JP Morgan, and ING.
Tanjung, the 937th richest country in the world, according to the March edition of Forbes magazine, spends more than US$300 million on the acquisition.
The other shareholders of the Carrefour following Tanjung's acquisition are Carrefour S.A (39%), Carrefour Nederland B.V (9,5%) and Onesia B.V (11,5%).
Chairul finances the acquisition with a loan of US$350 million from a consortium of four foreign banks, Credit Suisse, Citibank, JP Morgan, and ING.
The entire acquisition process, from the time the idea came up to the signing, requires three months. The initiative comes from Carrefour.
The share sales and joint venture agreements were signed at Carrefour headquarters in Paris, France on March 2010 by Chairul and Lars Olofsson, Chief Executive Officer of the Carrefour Group.
In 2006, the Para group joined the retail business by acquiring several well-known franchises, such as Coffee Bean, Baskin Robins Ice Cream, Mahagaya Perdana, and establishing Trans Lifestyle as an umbrella for the retail business.
PT Mahagaya Perdana is the distributor of popular brands, such as Mango, Prada, Escada, Gucci, Hugo Boss, Alfred Dunhill, and Ettiene Aigner.
Carrefour Indonesia has been operating since 1998. At the moment, the French retail giant, last year ranked 25th biggest companies in the world according to Fortune Global 500, has 79 outlets in Indonesian consisting of 63 hypermarkets and 16 supermarkets and recording IDR11.7 trillion in sales. This year, the company plans to open up 13 more outlets. By acquiring a 40% stake, Trans Corp is entitled to place four commissioners and two directors.
In 2006, the Para group joined the retail business by acquiring several well-known franchises, such as Coffee Bean, Baskin Robins Ice Cream, Mahagaya Perdana, and establishing Trans Lifestyle as an umbrella for the retail business.
PT Mahagaya Perdana is the distributor of popular brands, such as Mango, Prada, Escada, Gucci, Hugo Boss, Alfred Dunhill, and Ettiene Aigner.
Carrefour Indonesia has been operating since 1998. At the moment, the French retail giant, last year ranked 25th biggest companies in the world according to Fortune Global 500, has 79 outlets in Indonesian consisting of 63 hypermarkets and 16 supermarkets and recording IDR11.7 trillion in sales. This year, the company plans to open up 13 more outlets. By acquiring a 40% stake, Trans Corp is entitled to place four commissioners and two directors.
What is certain, the shareholders general meeting of Carrefour last week appointed Chairul the president commissioner, General (retired) A.M. Hendropriyono and former National Police Chief General (retired) S. Bimantoro as a commissioners.
In the meantime, to finance debts and business expansion, Chairul plans to issue global bonds this year. Credit Suisse, Citibank, JP Morgan, and ING will underwriter the global bond issuance.
The roadshow will be conducted in June 2010 to Singapore, Hong Kong, and the US.
The roadshow will be conducted in June 2010 to Singapore, Hong Kong, and the US.
Last year, Chairul announce Trans Corpora plans to issue bonds worth US$300 million-US$600 million this year. However, Chairul stated the fund would be used to build the largest studio in Southeast Asia.
Chairul is touted to be ready to expand to Singapore and Malaysia following his acquisition of Carrefour Indonesia. Chairul admitted Carrefour currently was still facing problems, one of which is the Business Competition Supervisory Commission's (KPPU) allegation that the MNC conducted monopolistic practice.
Another problem is the closure of several Carrefour outlets in some regions due to issues that the MNC has violated regional regulations.
Another problem is the closure of several Carrefour outlets in some regions due to issues that the MNC has violated regional regulations.
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