JAKARTA - PT Hero Supermarket Tbk (HERO) is divesting its retail business line, Hero Supermarket, for IDR 183 billion and sold it to PT Hero Retail Nusantara (HRN). The company’s decision to divest the supermarket is related to its mission to optimise Guardian and IKEA.

In the information disclosure quoted Monday (22/4), in addition to divesting Hero Supermarket, HERO will also lease outlets, distribution centres, and office spaces to HRN until 2026 and 2029. The leased assets include the supermarkets in Emerald Bintaro and Kota Wisata, Hero Distribution centres, and the office of Hero Store Support Centre (SSC).

The total transaction clocks up to IDR 183 billion, split into supermarket divestment of IDR 135 billion; outlet, distribution centre, and office spaces lease of IDR 35 billion; as well as projection of profitability of Hero Supermarket from 2025-2027 of IDR 13 billion.

This transaction is categorised as affiliate transaction, as Ipung Kurnia, President Commissioner of HERO, also acts as the Director of HRN. With this affiliate transaction status, negotiation will be carried out swiftly, and thus minimising operational disturbances.

HRN was established on February 20, 2024, with an authorised capital of IDR 10 billion, as well as issued and paid-up capital of IDR 2.5 billion. The composition of the shareholders includes PT Hero Intiputra of 98% and PT Binaswakarsa Mandiri, 2%.

Meanwhile, HERO recorded authorised capital of IDR 450 billion, as well as issued and paid-up capital of IDR 209.18 billion. The shareholders consist of Mulgrave Corporation BV of 63.59%, The Dairy Farm Company Ltd of 25.71%, and public investors of 10.70%. (LK/ZH)