CVC-owned Matahari launches up to $1.36 bln Indonesia offering-terms

KUALA LUMPUR/HONG KONG, March 11 Sun Mar 10, 2013 9:04pm EDT

KUALA LUMPUR/HONG KONG, March 11 (Reuters) - CVC Capital Partners and Multipolar Tbk launched on Monday an up to $1.36 billion share offering in PT Matahari Department Store, Indonesia's largest department store operator, looking to benefit from growing investor appetite for consumer stocks in Indonesia.

CVC, through one of its subsidiaries, and PT Multipolar Tbk are offering 1.167 billion shares in Matahari in a range of 10,000 to 11,250 rupiah, putting the total deal at 13.13 trillion Indonesian rupiah ($1.36 billion).

The offering has secured about $435 million in cornerstone pledges from investors including BlackRock, hedge fund Azentus Global Opportunities Master Fund, Goldman Sachs' GS Investment Strategies, and Government of Singapore Investment Corporation.


After wave of QE, onus shifts to leaders to boost economy

DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.