General Atlantic Mulling Options for Indonesia Retail Stake

Bloomberg2021-06-01

Deal could value firm’s MAP Boga shares at about $300 million General Atlantic owns about 20% of local Starbucks operator General Atlantic is weighing options for its nearly 20% stake in Indonesia’s ...

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kt888
2021-06-01
kt888
..
Erikca
2021-06-01
Erikca
Cool

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General Atlantic’s stake could be worth about $300 million in a disposal, said the people, who asked not to be identified as the information is private.\nThe food and beverage subsidiary of lifestyle retailer PT Mitra Adiperkasa Tbk is thinly traded in Jakarta, as its shares available for trading represent only about 1.3% of the outstanding stock, according to data compiled by Bloomberg. General Atlantic’s 19.4% ownership has a market value of about $41 million as of Monday’s closing price.\nDeliberations are at an early stage and General Atlantic may decide to keep its stake, said the people. A representative for General Atlantic declined to comment. A representative for Mitra Adiperkasa said the company has a plan for a placement of MAP Boga shares but the timing of any deal is yet to be determined.\nMAP Boga runs more than 370 stores across 30 cities in the country, according to its website. The company operates outlets under brands including Pizza Express and Krispy Kreme in the world’s fourth most populous nation.\nGeneral Atlantic in 2016 bought 1.08 trillion rupiah ($76 million) in zero-coupon bonds issued by Mitra Adiperkasa, which were convertible into shares in MAP Boga, according to a press release.","kind":"news","is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":119583896,"gmtCreate":1622555092715,"gmtModify":1704186220464,"author":{"id":"3577583042847869","authorId":"3577583042847869","name":"kt888","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":5,"crmLevelSwitch":0,"idStr":"3577583042847869","authorIdStr":"3577583042847869"},"htmlText":"..","listText":"..","text":"..","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/119583896","repostId":1185562879,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":119510643,"gmtCreate":1622554676082,"gmtModify":1704186205733,"author":{"id":"3582074233060171","authorId":"3582074233060171","name":"Erikca","avatar":"https://static.tigerbbs.com/4c8597dae5bbe585b053f307dd3255c0","vip":1,"hat":"https://static.tigerbbs.com/0a8758340a08196056f8bc1e54805193","crmLevel":5,"crmLevelSwitch":0,"idStr":"3582074233060171","authorIdStr":"3582074233060171"},"htmlText":"Cool","listText":"Cool","text":"Cool","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/119510643","repostId":1185562879,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":18,"commentSize":2,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1185562879"}