OSAKA (Yosefardi) – Autobacs Seven Co., a major retailer of car-related goods, is going to form joint venture (JV) partnership with Salim Group as part of its strategy to expand its overseas business.
Autobacs will control 49% stake in the Indonesian joint venture, while its partner, PT Central Sole Agency, a 100% subsidiary of PT Indomobil Sukses Internasional Tbk, is responsible for the rest.
The JV will engage in wholesale business of car parts and accessories in Indonesia, claimed to be ‘a business that has a great potential in the Indonesian market according to its rapid growth of economy’.
Founded in 1947, Autobacs Seven is a retailer of automotive parts and accessories based in Japan with branches primarily in Asia.
By Hatman Bintang
