Lawson Eyes Convenience Store Market Domination
PT Midi Utama Indonesia Tbk (MIDI), also known as Alfamidi, increased its capital in Lawson Indonesia convenience store operator PT Lancar Wiguna Sejahtera (LWS).
According to a disclosure filing on Monday, Alfamidi, through its subsidiary PT Amanda Cipta Persada (ACP), acquired 138,785,714 shares of LWS, valuing Rp 134.06 billion.
In addition, Alfamidi's other subsidiaries, PT Cakrawala Mulia Prima (CMP) and PT Perkasa Internusa Mandiri (PIM), purchased 34,178,571 shares each, totaling Rp 33.01 billion each. This move came after LWS issued 207,142,856 new shares at Rp 966 per share, resulting in a total transaction value of Rp 200.09 billion.
"This transaction is expected to generate synergies where ACP, CMP, and PIM can support the LWS ready-to-eat food supply chain," Alfamidi said in its statement.