Kawan Lama sells 10% stake in Ace Hardware

PT Kawan Lama Sejahtera, the majority shareholder of PT Ace Har..." /> Kawan Lama sells 10% stake in Ace Hardware

PT Kawan Lama Sejahtera, the majority shareholder of PT Ace Har...">
Kawan Lama sells 10% stake in Ace Hardware

PT Kawan Lama Sejahtera, the majority shareholder of PT Ace Hardware, said it has sold a 10% stake in the company to the investing public, Asia Pulse reported.

Kawan Lama Director Hartanto Djasman said his company retains 59.97% in Ace Hardware. This year Ace Hardware is set to chalk up Rp1.2 trillion ($131 million) in sales, an increase of 35% from last year, Djasman said.

Ace Hardware, which holds a franchise license from USHardware Corporation, plans to open more outlets in the regions including in Sidoarjo, Solo, Semarang, Medan, Palembang and Batam, the newspaper Investor Daily said.
<span style="font-size: 14pt"><span style="font-weight: bold">Kawan Lama sells 10% stake in Ace Hardware</span></span><br /> <br /> PT Kawan Lama Sejahtera, the majority shareholder of PT Ace Hardware, said it has sold a 10% stake in the company to the investing public, Asia Pulse reported.<br /> <br /> Kawan Lama Director Hartanto Djasman said his company retains 59.97% in Ace Hardware. This year Ace Hardware is set to chalk up Rp1.2 trillion ($131 million) in sales, an increase of 35% from last year, Djasman said.<br /> <br /> Ace Hardware, which holds a franchise license from USHardware Corporation, plans to open more outlets in the regions including in Sidoarjo, Solo, Semarang, Medan, Palembang and Batam, the newspaper Investor Daily said.
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