PT Trans Retail Indonesia, the retail arm of the Indonesian conglomerate CT Corp, is looking to partner with the IDX-listed e-commerce marketplace Bukalapak to create a joint venture targeting the fresh produce and grocery space, according to a senior executive.
“We’re in the process of creating an e-commerce joint venture for fresh [products] and groceries,” CT Corp chairman Chairul Tanjung said at a press conference.
Tanjung said CT Corp will own a 55% stake in the JV company while Bukalapak will hold the rest. He declined to divulge details of the timeline or details of the transaction.
Bukalapak’s head of media and communication Fairuza Ahmad said the company “always explores opportunities” in sectors that can support its efforts to provide services for its users.
