PT Matahari Putra Prima, 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 MatahariMall.com 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 MatahariMall.com 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.