The JV is believed to have used a PE fund known as the Asean Industrial Growth Fund (AIGF), which was set up five years ago with an initial fund size of US$130mil (RM527mil), to acquire the grocery chain. It is a South-East Asia-focused PE fund with investors mainly from Japan. Development Bank of Japan Inc is also reportedly a member of the partnership.
PETALING JAYA: A private equity (PE) fund managed by CIMB Private Equity (CIMB PE) and Mitsubishi Corp is believed to have won the bid to take over local supermarket chain Jaya Grocer.
It is believed that the joint venture (JV) had paid about RM300mil for the grocery chain, valuing the entity at more than 30 times the price-earnings ratio (PER) for this year, according to sources.
Already a subscriber? Log in.
Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
