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Carrefour Indonesia may be listed

Carrefour Indonesia may be publicly listed, if local operator Para Group gets its way and assumes control of the company

Carrefour Indonesia may be listed

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Carrefour Indonesia may soon be a publicly listed company with local firm Para Group looking to acquire control of the firm, Nam News has reported.

Last month the French giant announced it would sell a 40 per cent stake of its Indonesian interests to Para Group subsidiary Trans Corp, and Para Group is keen to increase that to 100 per cent.

A spokesperson for Trans Corp said they were in talks with Carrefour regarding the possibility, as the group would need total control before it could list the company.

Carrefour Indonesia is facing legal action by Indonesia's anti-monopoly watchdog, which ruled in November last year it was in breach of antitrust laws and should sell its stake in Indonesian company Alfa Retailindo.

The ruling was overturned on appeal in February, but the Indonesian Commission for the Supervision of Business Competition (KPPU) has launched its own appeal against that decision in the Supreme Court.

Carrefour Indonesia has about 80 stores in 22 cities, with plans to open 13 new outlets in 2010.

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