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Softbank acquires 19.9% stake in Polaris-linked PT Trikomsel

Published Tue, Mar 31, 2015 · 09:50 PM
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Singapore

SGX-listed Polaris Ltd said on Tuesday that the Japanese SoftBank Group has acquired a 19.9 per cent stake in its Indonesian associate company, PT Trikomsel Oke Tbk. Polaris is in the business of distribution and retail of smart mobile devices and lifestyle products and is controlled by Sugiono Wiyono, president director of Trikomsel.

The share acquisition was completed on March 27 and SoftBank holds the shares through its subsidiaries Chateau Montague Pte Ltd, Red Enterprise Holdings Ltd and Sommerset Palace Holdings Ltd.

KEYWORDS IN THIS ARTICLE

Indonesia
SGX
Retail

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