Indonesia: Retailer MDS closes 2nd tranche of investment in MatahariMall

MatahariMall. Photo: Bloomberg

Indonesian retail firm Matahari Department Stores (MDS) – whose parent company Multipolar is part of the Lippo Group conglomerate – has closed its second tranche of investment, in the last one year, which takes its stake to nearly 16 per cent in local e-commerce startup MatahariMall.com, according to the company.

The company has, till date, invested a total of $41.8 million in MatahariMall.com and is planning to invest an additional $16 million (Rp 212.5 billion) by the end of the year as part of their Rp 590 billion plan, taking its stake to around 18 per cent in the e-commerce entity.

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