Carrefour expects negotiations to buy Alfa stake completed shortly

"We have just signed a memorandum of understanding for the stake purchase. We hope an agreement can be reached over the next few days," Carrefour Indonesia corporate affairs director Irawan Kadarman told Thomson Financial.
Earlier today, the company said it was planning to acquire a 75 percent stake in PT Alfa Retailindo from key Alfa shareholders PT Sigmantara Alfindo and Prime Horizon Pte Ltd.
Kadarman however declined to comment on how much Carrefour was offering for the stakes.
PT Sigmantara Alfindo owns 55 percent of Alfa Retailindo, Prime Horizon holds 40 percent and 5 percent is held by the investing public.