JAKARTA -- Charoen Pokphand Indonesia's one trillion rupiah ($75 million) bid to acquire the operator of 7-Eleven convenience stores in Indonesia has been canceled, leaving the struggling retailer in limbo once again.
In a stock exchange filing on Monday, Modern Internasional, the parent company of 7-Eleven franchise operator Modern Sevel Indonesia, said the cancellation was "due to non-agreement of the parties concerned." A shareholders meeting scheduled for June 21 to vote on the sale has also been canceled.
