05 May 2021

Acquisition of shares in PT Matahari Department Store by joint venture between OUE Limited and Auric Bespoke I

Partners Sandy Foo and Goh Jun Yi from Rajah & Tann Singapore are acting for OUE Limited in the voluntary tender offer with Auric Bespoke I Pte. Ltd. to acquire up to 40.0% of the total issued and fully paid-up shares in the capital of PT Matahari Department Store Tbk ("PT Matahari"), a company listed on the PT Bursa Efek Indonesia. The transaction values PT Matahari at approximately S$367 million.