| HONG KONG
HONG KONG Oct 26 Indonesia's CT Corp is seeking
an around $750 million bridge loan to fund the purchase of the
60 percent stake that it does not already own in Carrefour SA's
Indonesian unit, Basis Point reported on Friday.
Many banks are putting forward proposals for the bridge,
which could be taken out through several options, including a
bond, a term loan and an equity offering, said the report,
Reuters reported in July that the Indonesian conglomerate,
with banking and media interests, was in talks with Carrefour to
increase its stake in the French retailer's local unit.
CT Corp, formerly known as Para Group, bought a 40 percent
stake in Carrefour's Indonesian unit for $350 million in early
2010. It had raised $350 million through an 18-month bridge loan
to fund that purchase.
Carrefour, the world's second-biggest retailer, is exiting
non-strategic markets as new Chief Executive Georges Plassat
raises cash to focus on reviving core European operations after
years of underperformance.
A Carrefour spokeswoman declined to comment, while CT Corp
officials were not available for immediate comments.
(Reporting by Prakash Chakravarti of IFR/LPC; Additional
reporting by Janeman Latul and James Regan; Writing by Denny
Thomas; Editing by Muralikumar Anantharaman)