Lippo Buys Robinsons

THE news came last week. The Lippo Group finalized the purchase of 29.9 percent of Robinson & Cos shares at S$203 million (around Rp1 trillion). The purchase of the Singaporean retail company was made through Auric Pacific Group Ltd, one of Lippo Groups companies. In Indonesia, the business group owned by the Riady family is also the majority owner of PT Matahari Putra Prima Tbk.

Overseas Chinese Banking Corp and Great Eastern