Aug 5 Private equity firm CVC Capital Partners
plans to raise up to $300 million by selling a part of
its stake in Indonesian retailer Matahari Department Store
, the Wall Street Journal reported, citing people
familiar with the matter.
CVC plans to cut its stake in Matahari to about 17 percent
from 25 percent, the Journal reported. (on.wsj.com/1v6sb2j)
The private equity firm expects to sell the retailer's
shares at 13,900-14,325 Indonesian rupiah ($1.19-$1.22) each,
the newspaper reported.
CVC sold a 6.5 percent stake in Matahari in March.
The private equity firm recently hired Credit Suisse,
Deutsche Bank and Goldman Sachs to handle a share sale in
Indonesian internet service provider Link Net Tbk PT,
Reuters reported last month.
CVC and Matahari were not immediately available for comment.
($1 = 11,695 Indonesian rupiahs)
(Reporting by Arnab Sen in Bangalore; Editing by Kirti Pandey)