Trans retail to boost sales after acquiring Carrefour Indonesia

Jakarta (ANTARA News) - The CEO of CT CORP, Chairul Tanjung, is keen on increasing the sales margin of PT Trans Retail tenfold, after signing an agreement with Carrefour Indonesia, on Monday (Nov 19).

"After acquiring 60 percent of PT Carrefour Indonesia, I want to increase the sales margin tenfold, under the new name," said Tanjung, in Jakarta, on Tuesday.

To meet the target, Tanjung mentioned that PT Trans Retail will create multiform business retails in Indonesia, such as grocery shops, hypermarkets, mini-markets and convenience stores.

"We will be bringing an international brand consultant to design our multiform business," he said.

However, Tanjung noted that reaching the multiform retail network goal will take some time, based on the regulations and infrastructure preparations. He gave an example of the long process of land procurement and regulation, which will begin in 2013 and issued in 2014.

PT Trans Retail, one of the CT Corp`s subsidiaries, has acquired 40 percent share of PT Carrefour Indonesia in 2010 and taken 60 percent share on Monday (Nov 19), in a deal then worth $750 million. It went through loans from ten international banks: Credit Suisse, BNP Paribas, JP Morgan Securities, ING Bank, ANZ, Goldman Sachs, Deutsche Bank, Royal Bank of Scotland, Standard Chartered Bank and Bank of Tokyo.

Tanjung added that after the acquisition, PT Trans Retail holds exclusive license to use the Carrefour brand in Indonesia, and it has a chance to acquire Carrefour shares from any part of the world.

"Particularly in Southeast Asia, Carrefour Vietnam and Myanmar could get acquired," he said.(*)