Indonesian retailer Mitra Adiperkasa sets up unit to market US ice cream brand

JAKARTA (XFN-ASIA) - Retailer PT Mitra Adiperkasa said it has set up a wholly-owned subsidiary PT Sari IceCream Indonesia that will market the US-based 'cold stone creamery' brand in the country.

The unit has paid-up capital of 50 bln rupiah.

Mitra Adiperkasa holds licenses in Indonesia to operate some leading global brands, including the UK's Debenhams department store, Japan's Sogo department store and the Starbucks (nasdaq: SBUX - news - people ) coffeeshop chain.

It currently operates more than 500 stores in 22 cities across Indonesia.

(1 usd = 9,034 rupiah)

 

 

 

 

Indonesia retailer Ramayana plans to buy rival Alfa

Indonesia retailer Ramayana plans to buy rival Alfa


JAKARTA, Jun 26, 2007 (Reuters) - Indonesian retailer, PT Ramayana Lestari Sentosa Tbk (RALS.JK: Quote, Profile , Research), said it plans to buy a 55 percent stake in supermarket chain, PT Alfa Retailindo Tbk (ALFA.JK: Quote, Profile , Research), at 1,600 rupiah a share.

Ramayana, which runs department stores in Indonesia, said in a statement to the Jakarta stock exchange late on Tuesday that it planned to buy the stake from PT Sigmantara Alfindo, a shareholder of Alfa, without elaborating.

Shares in Alfa, which has a market capitalisation of nearly $80 million, ended 2.7 percent higher on Tuesday at 1,540 rupiah. The company has a chain of supermarket and small convenience stores in Indonesia.

Ramayana has 88 stores in Southeast Asia's largest economy under the name of Ramayana and Robinson, mostly catering to low and middle income consumers. Its enterprise value was around $820 million.