Matahari Says Will Retain, Expand Hypermart Business After Merrill Review

PT Matahari Putra Prima, Indonesia’s biggest retailer by market value, said it will “retain, and further intensify and expand its Hypermart Food Retail business as a wholly-owned business division of the company.” 

Matahari, in an e-mailed press release today, said a review by Bank of America Corp.’s Merrill Lynch unit recommended Matahari “bring in a global partner into MPP to expand its hypermart food business and divest of non-core, non-food retailing assets.” Source: Bloomberg