Oct 5, 2010

CT to acquire Carrefour Malaysia

An entrepreneur Chairul Tanjung (CT) will undergo consortium with local partners to acquire Malaysia and Thailand Carefour.
However, the owner of CT Corporation is quite confidence to be independent in taking over 100% shares of Singapore Carefour.
“In Malaysia, we has teamed up with local stated-companies and is dominated Trans Corp’s portion. Then, in Thailand, the plan is similar,” Chairul said today as reported by Bisnis.com.
Meanwhile according to him, Trans Corp requires 60% shares on the consortium. “But we will takes over totally for Singapore Carefour.”
Because of global crisis, Carefour, the second largest retailer, forcefully went out of Southern Asia and Japan’s markets.
In Indonesia, Trans Corp had expropriated 40% shares of Carefour in April this year.
Chairul hopes the acquisition process of 100% shares for Carefour in Malaysia and Singapore to be completed in the end of this year. In Malaysia, as he confirmed, Trans Corp must be competed at least four investors.

Disclosure: No position at the stock mentioned above.  

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