ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter

7-Eleven operator cancels sale to CP Indonesia

Shares fall as turnaround plans face uncertainty

A 7-Eleven store in Jakarta

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.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more