MPPA increases stake in to 10%

Lippo Village, Tangerang , 2016-Jul-02 — /EPR Retail News/ — PT Matahari Putra Prima Tbk (MPPA), a multi-format modern retailer in Indonesia, which operates Hypermart, Smartclub, Foodmart, Boston and FMX, today announced that its Board of Directors has authorized an additional share purchase option of for Rp12,065 per share in all cash transaction valued at Rp99.8 billion. The Company’s total shares have raised to 15,728,152 or equals to 10%.

With the acquisition, MPPA hopes to benefit from wider access to e-commerce as its development will remain strong this year. The Company views e-commerce in Indonesia is an enormous market and will continue to grow.

The investment and partnership with is a new opportunity to foster O2O e-commerce components that encourage the sale contribution in the future. The relationship will improve MPPA’s position as the leading multi-format modern retailer in Indonesia, as well as contribute to a sound financial outlook going forward. MPPA takes advantage to secure a new opportunity to display and market the Company’s exclusive brand throughout Indonesia via e-commerce.

About PT Matahari Putra Prima Tbk (MPPA)
PT Matahari Putra Prima one of Indonesia largest retailers employs more than 13,000 associates who serve customers in 110 Hypermarkets (Hypermart), 23 Supermarkets (Foodmart Primo/Fresh), 50 Minimarket/ Convenience stores (FMX), 105 Health and Beauty format stores (Boston) and 1 Wholesale (SmartClub). As of 31 March 2016, MPPA operates 289 stores in 68 cities throughout Indonesia.

MPPA continues to receive both domestic and international acknowledgement with several awards such as: The Charter Award concerning the environmental standards from Ecolabel & Green Label Indonesia by the Ministry of Environment and Forestry of Republic of Indonesia, 2015 Indonesia WOW Brand by MarkPlus Inc, 2015 Top 50 Most Valuable Indonesian Brands by Millward Brown, 2015 Indonesia Best eMark Award by SWA & Telkom University, and 2015 Top 10 Retailers Certificate of Distinction by Retail Asia.

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Source: MPPA