Indonesia's Tudung to sell 30 pct stake in GarudaFood-sources

* Aims to raise $300 mln, values firm at $1 bln - sources

 * Tudung says hired Barclays as advisor for the sale

Indonesia's consumer-focused Tudung Group plans to raise about $300 million by selling up to a 30 percent stake in its food firm GarudaFood early next year, as investors look to snap up Indonesian consumer-related assets, four sources said on Friday.     

The sale is attracting interest from private equity firms and would follow several consumer-related deals in Indonesia this year, as domestic demand from a youthful 240 million population drives growth in Southeast Asia's biggest economy.     

 "Tudung is looking to unlock the value of GarudaFood by working with a strategic partner via a stake sale," said one of the sources, adding that buyout funds including Carlyle Group were among the potential interested bidders.

 The sources, with direct knowledge of the deal, declined to be identified because the sale was not public. A Tudung Group spokeswoman confirmed a stake sale was being planned and that it has hired Barclays Capital to run the sale.    

           

 Tudung, an investment holding group controlled by the family of founder Darmo Putro, has business interests in food and the beverage industry in Indonesia and China.         

 Its GarudaFood unit, valued at about $1 billion, sells instant foods, peanuts and other snacks globally.  "Private-equity firms will likely become the potential
buyers as the company plans to increase GarudaFood's value before it finally goes public," said another of the sources.

           

 Another big consumer-related asset sale is ongoing with Lippo Group's Matahari selling Hypermart, Indonesia's second-biggest hypermarket chain after PT Carrefour Indonesia, as it looks to raise about $1 billion.

 Wal-Mart Stores Inc , the world's top retailer, French's Casino Guichard-Perrachon SA and South Korea's Lotte Shopping Co Ltd are among short-listed parties asked to submit next-round bids next month, sources told Reuters last month.

 Earlier this year Matahari agreed to sell a 90.76 percent stake in retail unit Matahari Department Store to a joint venture with private equity group CVC Partners for $770 million. Source: Reuters