New Controlling Shareholder, MAPI Launches Tender Offer at This Price

Jakarta, CNBC Indonesia — The new controlling shareholder of PT Mitra Adiperkasa Tbk (MAPI) plans to carry out a mandatory tender offer at a premium price of Rp1,550 per share after completing the acquisition of 51% of the shares in the retail management company.

According to the stock exchange disclosure, the tender offer price is 22% higher than the average of the highest daily share prices of MAPI over the last 90 days up to 7 May 2026, which stood at Rp1,274 per share.

“For MAPI shareholders, this mandatory tender offer presents an opportunity to realise profits on their investment in MAPI at a price higher than the market price up to 7 May 2026,” as quoted on Friday (8/5/2026).

This mandatory tender offer is being conducted after Pacific Universal Investments Pte. Ltd. has completed the acquisition of 8.466 billion MAPI shares from PT Satya Mulia Gema Gemilang. This amount is equivalent to 51% of MAPI’s total issued and fully paid-up capital, with a transaction value of Rp11.81 trillion at a price of Rp1,395 per share.

Pacific Universal Investments states that it will collaborate with CVC to appoint Samudra (Investment) Pte. Ltd. (SIPL) and Ocean Continuum Pte. Ltd. (OCPL) as the parties executing the mandatory tender. Both entities are indirectly owned 51% by Pacific Universal Investments and 49% by funds managed by CVC Capital Partners plc.

These two companies have an affiliation relationship because Sean Gustav Standish Hughes serves as a Director of MAPI and also as a Director of Pacific Universal Investments, while Zoee Ho Ziwei serves as a Commissioner of MAPI and also as a Director of Pacific Universal Investments.

As the new controlling shareholder, Pacific Universal Investments expresses its intention to develop the MAPI group business in Indonesia and the Southeast Asia region. The MAPI group itself oversees several retail brands such as Zara, Foot Locker, and Starbucks.