GIC to invest in Indonesian theatre chain

It will be injecting $260m capital in PT Nusantara Sejahtera Raya.

Singapore's sovereign wealth fund GIC Pte has sealed the deal to became a partner with an Indonesian cinema operator, investing 3.5 trillion rupiah ($260 million), to help expand the theater chain across the country.

According to a report on Bloomberg, PT Nusantara Sejahtera Raya entered the partnership with GIC. It operates 157 cinemas across 36 cities in Indonesia.

This is GIC’s latest investment in the Southeast Asian nation, after it said in October that it would team with an Indonesian warehouse provider, PT Mega Manunggal Property Tbk, to invest in warehouses in the nation.

Read full story here.

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