19/09/2012 10:42:00

Trans Retail Mulls Stake Increase in Carrefour Indonesia to 100% - Official

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By Linda Silaen

JAKARTA--Unlisted retailer PT Trans Retail is considering to increase its shareholding in retailer PT Carrefour Indonesia to 100% from 40% at present, Trans Retail President Commissioner Chairul Tanjung told Dow Jones Newswires Wednesday.

"We are in talks now (with Carrefour Indonesia's shareholders)... Hopefully, we can announce something next month," Mr. Tanjung said.

He didn't provide any other details.

In 2010, Trans Retail bought a 40% stake in Carrefour Indonesia for $300 million.

At present, Carrefour Indonesia is 39% owned by French-based Carrefour S.A., 9.5% by Carrefour Nederland B.V. and 11.5% by Onesia B.V.

Due to falling sales, Carrefour pulled out of Greece in July and is expected to close down stores in Singapore later this year. It has said it plans to shut more stores in Indonesia and Malaysia.

Officials at Carrefour weren't immediately reachable for comment.

Write to Linda Silaen at edhi.pranasidhi@dowjones.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

(END) Dow Jones Newswires

September 19, 2012 05:42 ET (09:42 GMT)

Copyright (c) 2012 Dow Jones & Company, Inc.

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