PT Carrefour Indonesia today announced a cash tender for 2.14 million shares or 0.46% stake of PT Alfa Retailindo Tbk at Rp4,500 a share or Rp9.63 billion.
Carrefour Indonesia has mandated PT Bahana Securities to arrange the tender offer, scheduled on July 29 to August 27 2011.
The tender offer is set in a bid to proceed go private which has been approved by extraordinary of shareholders' general meeting.
Carrefour Indonesia, where Indonesian mogul Chairul Tanjung to be president commissioner, sets the tender price at Rp4,500 per share, representing a 87.50% premium from the highest price within 90 trading days.
PT Trans Retail controls 40% stake in Carrefour Indonesia, Carrefour S.A. owns 39.02%, Onesia BV holds 11.47%, and Carrefour NBV holds 9.51%.
Disclosure: No position at the stock mentioned above.
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