Metro buys Indonesian store

Sat, 28 Aug 1999 | Source: DJ

SINGAPORE (Dow Jones): Metro Holdings Ltd., a retailer, said Friday it has acquired a 50 percent stake in Indonesia-based Metropolitan Retailmart for S$2.2 million (US$1.31 million).

The group said the stake will be bought with cash from internal resources.

Metropolitan Retailmart operates two Metro department stores in Jakarta.

The investment isn't expected to have a significant impact on net tangible assets per share or earnings per share for the current year.

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