Aditya Hadi Pratama · · 1 min readBukalapak to build e-grocery business with 🇮🇩 conglomerate
Indonesian ecommerce firm Bukalapak is set to build a joint venture with PT Trans Retail, a subsidiary of local conglomerate CT Corp, to run an e-grocery business, CNBC Indonesia reported, citing a statement from CT Corp’s owner Chairul Tanjung.
PT Trans Retail, which operates Indonesian supermarket brand Transmart, will own 55% of the new entity, while Bukalapak will own the rest.
Recently, both Bukalapak and CT Corp took part in the right issue process of Bank Allo, the newest player in the country’s digital banking space. The bank aims to raise 4.8 trillion rupiah (around US$335 million) and has received commitments from several investors, including Southeast Asian super app Grab and used-car platform Carro.
See also: Indonesia e-grocery battle escalates as more players enter the fray
Editing by Collin Furtado and Jaclyn Tiu
(And yes, we’re serious about ethics and transparency. More information here.)
Stay updated on the go with our mobile app.
Get latest insights with smoother, more personalized experience through TIA mobile app.
