PT Charoen Pokphand Tbk finally annexed 7-Eleven convenience store business from PT Modern International Tbk (MDRN). The acquisition value of 7-Eleven reached Rp 1 trillion. This news confirmed the rumors that circulated in March (Daily Kontan, March 20, 2017).
Tjiu Thomas Effendy, President Director of PT Charoen Pokphand Tbk. Said that the acquisition of 7-Eleven business network in Indonesia is just waiting for approval of MDRN shareholder. About the funds, we take from the company’s internal cash, said Thomas to Kontan, (21/4/2017).
The results of the two companies agreement, will be completed before 30 June 2017, after all conditions are met. If successful, Thomas has prepared the scenario of running a 7-Eleven business to get out of the losses. We can change the concept later, now the concept of MDRN, Thomas said.
During this time, Modern International resembles 7-Eleven business as a fast-food restaurant business unit combined …