South Korea's Lotte Shopping Co Ltd (023530.KS) plans to take part in the next round of bidding to buy the hypermarket business of Indonesia's Matahari Putra Prima PT (MPPA.JK), which the group hopes to sell for $1 billion.
"Yes, [Lotte] is in. Lotte will put down their bid for Matahari's hyerpermart assets," a source with knowledge of the deal told Reuters.
The second round of bids are due on Friday.
Lotte, the fourth-biggest hypermart player in Indonesia, is South Korea's fifth-largest conglomerate in terms of assets and has in recent years actively snapped up M&A targets across Asia in the face of an increasingly saturated retail market at home. Source: Reuters
"Yes, [Lotte] is in. Lotte will put down their bid for Matahari's hyerpermart assets," a source with knowledge of the deal told Reuters.
The second round of bids are due on Friday.
Lotte, the fourth-biggest hypermart player in Indonesia, is South Korea's fifth-largest conglomerate in terms of assets and has in recent years actively snapped up M&A targets across Asia in the face of an increasingly saturated retail market at home. Source: Reuters
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