Matahari sells Prapatan stake

Matahari sells Prapatan stake

JAKARTA (JP): The country's largest listed retail firm PT
Matahari Putra Prima sold its 12.61 percent stake in PT Hotel
Prapatan yesterday through the crossing board at the Jakarta and
Surabaya stock markets yesterday.

The company announced that the transaction had been reported
to the Capital Market Supervisory Agency (Bapepam) and the
Jakarta Stock Exchange (JSX).

"We would like to inform that PT Matahari Putra Prima has sold
25 million shares or 12.61 percent shares in PT Hotel Prapatan
through the market," the company said.

Currently Matahari is partly owned by Multipolar Corporation,
the operator of the Indonesian branches of Wal-Mart, JC Penny and
several other foreign retail chains.

PT Hotel Prapatan, founded in 1969, owns the five-star Hotel
Aryaduta.

Matahari is Indonesia's largest retail group with 81 retail
outlets operating throughout the country. (aly)