SCG acquires 29% Stake in Indonesia#s Leading Modern Retailer and Distributor of Home Products

Real Estate Press Releases Monday July 16, 2018 15:08
Bangkok--16 Jul--SCG

SCG engages in an integral part in the sustainable development within the region by acquiring a 29% stake in PT Catur Sentosa Adiprana Tbk (CSA). CSA has two core businesses including modern retailing named "Mitra10" and distributing of home products. Mitra10 is Indonesia's leading modern retailer of home products operating 27 stores in most of the main cities. For the distribution business, CSA has access to network of more than 30,000 traditional building materials retailers nationwide. Having a stake in CSA allows SCG to further execute its penetration into the high-growth and vast Indonesian market. Moreover, the investment will gain further synergy with SCG's existing assets in Indonesia.

This acquisition has a transaction value of 1,035 billion IDR (approximately 2,400 million Baht), and the transaction is expected to be completed in the third quarter of 2018. SCG's acquisition will be through SCG Retail Holding Company Limited, a wholly owned subsidiary of SCG in Cement-Building Materials Business. The size of this transaction is 0.41% of total assets stated in SCG consolidated financial statements as at March 31, 2018. After the transaction is combined with those in the past six months prior, the total size will be 4.84%.

In order that, CSA is a listed company on the Indonesia Stock Exchange under the ticker "CSAP.JK". In 2017, CSA had approximately consolidated sales of 23,700 million Baht, and total assets of 12,000 million Baht.


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