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Dairy Farm unit to sell $152 mln stake in Indonesia retailer-terms
November 12, 2012 / 9:41 AM / 5 years ago

Dairy Farm unit to sell $152 mln stake in Indonesia retailer-terms

HONG KONG, Nov 12 (Reuters) - A unit of Dairy Farm International Holdings Ltd is offering up to $152 million worth of shares in Indonesian retailer PT Hero Supermarket, according to a term sheet of the transaction seen by Reuters on Monday.

Dairy Farm is offering 444.1 million shares of Hero Supermarket through its Mulgrave Corporation BV unit at an indicative range of 2,950-3,300 rupiah each, the term sheet said.

The price is equivalent to a discount of as much as 15.1 percent to Monday’s closing price of 3,475 rupiah.

Bahana Securities and CLSA were hired as joint global coordinators on the deal, with UBS also acting as joint bookrunner. (Reporting by Vikram Subhedar; Writing by Elzio Barreto)

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