Indonesian retailer Ramayana plans to buy 55 pct stake in rival Alfa
JAKARTA (Thomson Financial) - One of Indonesia's leading retailers, PT
Ramayana Lestari Sentosa, said it plans to buy a 55 pct stake or 257.4 mln
shares in rival PT Alfa Retailindo for 1,600 rupiah each.
Alfa shares closed Tuesday up 40 rupiah or 2.7 pct at 1,540.
Ramayana said in a statement to the the Jakarta Stock Exchange that it will
acquire the stake from Alfa's controlling shareholder PT Sigmantara Alfindo.
It gave no further details.
Another major shareholder in Alfa is a Singapore investment firm Prime
Horizon Pte Ltd which has a 40 pct stake.
(1 usd = 9,023 rupiah)
[EMAIL PROTECTED] ab/mb MMMM PIL43-26Jun07 11:08 GMT
---------------------------------
Sick sense of humor? Visit Yahoo! TV's Comedy with an Edge to see what's on,
when.
