CVC and partners raise $1.3 billion from Matahari sell-down

International investors are keen to get a piece of Indonesia’s leading department store operator, allowing the price to be fixed above the mid-point.

Private equity firm CVC Capital and the other controlling shareholders of Indonesia’s Matahari Department Store have raised Rp12.66 trillion $1.3 billion after pricing the fully-marketed follow-on share sale above the mid-point of the range.

The deal, which is the largest equity capital markets transaction in Indonesia since Bakrie Brothers raised $4.4 billion from a rights issue five years ago, attracted a lot of attention and sources said over the weekend that the two-thirds of the...

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