Planet Retail 19 Dec 2007

Carrefour's Indonesian unit has this morning said that it is planning to purchase a 75% stake in rival Alfa Retailindo [1].

The company said in a published statement it has signed a memorandum of understanding with PT Sigmantara Alfindo and Prime Horizon Pte Ltd, the key shareholders of Alfa Retailindo, on its intention. 'With this MoU, PT Carrefour Indonesia can now begin negotiations with PT Sigmantara Alfindo and Prime Horizon to purchase up to 75% of Alfa Retailindo,' it said. The parties involved in the negotiations will sign a conditional share purchase agreement when they have agreed on the terms and conditions of the purchase. PT Sigmantara Alfindo owns 55% of Alfa Retailindo, Prime Horizon holds 40% and 5% is held by the investing public. Earlier in the year Ramayana had offered to takeover Retailindo but then withdrew after disagreements over the scope of the deal.

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