Indonesia's Matahari Department Store to buy 16% shares in Nobu bank for $38m

Indonesia’s PT Matahari Department Store Tbk (LPPF), a fashion retailer majority-owned by Lippo Group, is acquiring the entire 16 per cent stake owned by PT Inti Anugerah Pratama (IAP) in PT Bank NationalNobu Tbk (Nobu Bank), according to a stock exchange disclosure on Thursday.