Indonesian e-commerce firm Blibli to acquire 51% stake in grocery chain SBL

Indonesian e-commerce firm Blibli to acquire 51% stake in grocery chain SBL

Photographer: David Paul Morris /Bloomberg

Indonesian e-commerce platform Blibli.com, a subsidiary of local conglomerate Djarum Group, has signed an agreement to acquire a majority stake in grocery store chain PT Supra Boga Lestari Tbk (SBL).

In a statement on Thursday, Blibli said it will buy around 797.88 million shares, representing at least 51% of the total issued and paid-up capital of SBL, from existing shareholders. It did not disclose the deal value.

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