Matahari eyes Singapore's premier retailer

Matahari eyes Singapore's premier retailer

Deutsche Presse-Agentur
Singapore

Thailand's Central Group, Filipino tycoon John Cokongwei and
Indonesian's Lippo Group are among the front-runners said to be
keen on buying the retail operations of Singapore's Robinson and
Co., it was reported on Tuesday.

The city-state's premier retailer said last Friday it plans to
sell its operations under Robinsons and John Little as well as
the Marks & Spencer franchise that it operates in Singapore and
Malaysia.

Analysts put the price at S$400 million (US$230 million).

"The Central Group of Thailand is a potential suitor," an
analyst in Bangkok told The Business Times.

"Before the Asian financial crisis, it has been aggressively
expanding within Thailand," he was quoted as saying. "Today, it
still harbors the ambition of expanding into other regional
markets."

Central Retail Corp claims to be the largest retailer in
Southeast Asia.

Sources told the newspaper the cash-rich Gokrongwei family,
which runs the other unrelated Robinson department store in the
Philippines, is another potential suitor.

Matahari, Indonesia's premier retail company linked to James
Riady's Lippo Group, is also among the keenest.

Indonesian shoppers are among Singapore's top spenders.

There has also been speculation that Japanese retailers
including Seibu, Isetan and Sogo were among potential suitors for
the 145-year-old Robinson's

Sources also said there are up to three parties from Hong Kong
"which are in broadly similar businesses" which have voiced their
interest.