JAKARTA (Yosefardi) – MatahariMall.com, e-commerce site of Lippo Group, has bagged loan of US$200 million, equivalent Rp2.6 trillion, from Credit Suisse and Bank of America Merrill Lynch.
Lippo Group plans to invest US$500 million, equivalent Rp6.5 trillion, in MatahariMall, to become Indonesia’s Alibaba, and target to book sales of US$1 billion.
Rothschild is assigned as Financial Advisor for Lippo Group on this transaction.
Chris Gammons, Head of Southeast Asia Investment Banking, Bank of America Merrill Lynch, said Indonesia has its best momentum now for developing e-commerce business, supported by strong economic growth, urban trend, the acceleration of technology adoption.