<article><a style="color: #000080;" href="https://www.dealstreetasia.com/tag/charoen-pokphand/" target="_blank" rel="noopener noreferrer">Charoen Pokphand Indonesia</a>’s Rp 1 trillion ($75 million) plan to acquire the local operator of 7-Eleven convenience stores, <a style="color: #000080;" href="https://www.dealstreetasia.com/tag/modern-sevel-indonesia/" target="_blank" rel="noopener noreferrer">Modern Sevel Indonesia</a>, has been shelved.</article>

<a style="color: #000080;" href="https://www.dealstreetasia.com/tag/charoen-pokphand/" target="_blank" rel="noopener noreferrer">Charoen Pokphand Indonesia</a>’s Rp 1 trillion ($75 million) plan to acquire the local operator of 7-Eleven convenience stores, <a style="color: #000080;" href="https://www.dealstreetasia.com/tag/modern-sevel-indonesia/" target="_blank" rel="noopener noreferrer">Modern Sevel Indonesia</a>, has been shelved.
<a style="color: #000080;" href="https://www.dealstreetasia.com/tag/modern-international/" target="_blank" rel="noopener noreferrer">Modern International</a>, the parent company of Modern Sevel Indonesia, said in a stock exchange filing that the cancellation was “due to non-agreement of the parties concerned”.
When Charoen Pokphand Indonesia announced the plan back in April, it was seen as a new lease of life for Modern Sevel that has suffered losses in recent years due to high market competition. On top of that, in 2015, Jakarta decided to ban alcohol sales at small retail stores, which at the time was one of the key driving sales for the retail store operator.
The purchase was expected to be completed this month.
Modern Sevel has a total of 175 7-Eleven outlets as of September 2016, mostly in Jakarta. In Thailand, Charoen’s affiliate Charoen Pokphand Group already operates the 7-Eleven trademark, with more than 9,500 outlets.
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Charoen Pokphand Indonesia’s Rp 1 trillion ($75 million) plan to acquire the local operator of 7-Eleven convenience stores, Modern Sevel Indonesia, has been shelved.

Indonesia: Charoen Pokphand cancels $75m buyout of 7-Eleven operator

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Indonesia: Charoen Pokphand cancels $75m buyout of 7-Eleven operator

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