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Dairy Farm unit to sell USD152m stake in Indonesia retailer

A unit of Dairy Farm International Holdings Ltd is offering up to USD152 million worth of shares in Indonesian retailer PT Hero Supermarket, according to a term sheet of the transaction seen on Monday.

Dairy Farm is offering 444.1 million shares of Hero Supermarket through its Mulgrave Corporation BV unit at an indicative range of IDR2,950-3,300 each, the term sheet said.