25.02.2016 - GIC expands Indonesia exposure, buys into retail
Singapore sovereign wealth fund GIC has increased its exposure to Indonesia's growing middle class by investing 5.2 trillion rupiah ($385 million) in Trans Retail, the main retail arm of conglomerate CT Corp. CT Corp's businesses span television and online media to retail, banking and amusement parks. Its retail arm Trans Retail, formerly a local unit of French retail group Carrefour, currently runs 86 hypermarkets and supermarkets in the country under the Carrefour and TRANSmart brands. GIC said in a press release on Wednesday that Trans Retail is taking advantage of the rapidly expanding consumer class as Indonesia's retail scene shifts from traditional mom-and-pop stores to modern trade formats...............................................Full Article: Source
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