Charoen Pokphand's (CP) acquisition of 7-Eleven stores in Indonesia fails

Date : 06 June 2017

Modern Sevel Indonesia, which operates 7-Eleven convenience stores in Indonesia, cancels the sale of the chain due to "non-agreement of the parties concerned".

Challenging times ahead

CP Indonesia is an affiliate of CP All, which operates more than 9,500 7-Eleven stores in Thailand. Its plan to buy 7-Eleven stores for US$75 million would have brought much needed funds and expertise for the struggling operator in Indonesia. The convenience channel in Indonesia is dominated by two local retailers Alfamart and Indomaret, with more than 13,000 stores each. Modern Sevel operated 175 stores as of September 2016.