Ramayana to Divest Robinson

Ramayana Lestari Sentosa (RALS IJ, Neutral, TP: IDR1,350) is planning to divest its supermarket business, Robinson. Currently the company is weighing on two options: 1) RALS will form a joint venture with a strategic partner for Robinson, 2) RALS will divest its entire stake in Robinson. RALS is currently operating 80 branches of Robinson supermarket and management claimed that several foreign investors have expressed interest in Robinson. However, no further details are mentioned regarding the divestment plan.