Deals
Matahari Rises to Record as Companies Vie for Controlling Stake
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PT Matahari Putra Prima, Indonesia’s biggest retailer by market value, rose to a record after saying four companies, including South Korea’s Lotte Shopping Co., are interested in acquiring a controlling stake.
Bank of America Corp.’s Merrill Lynch unit is facilitating discussions with four retailers that may “explore the modes of investment” that may include a stake sale, Matahari said in an e-mailed statement. Its stock jumped 7 percent to 1,690 rupiah, the highest since listing in December 1992, at the 4 p.m. close of trading in Jakarta.