Private equity and investment advisory firm CVC Capital Partners has sold an 11.5 percent stake in Indonesia-based retailer Matahari Department Store for a reported IDR4.69 trillion (approximately US$397 million). The transaction entailed CVC-owned Asia Color Company selling 335 million shares in Matahari through a private placement to investors in Asia, the United States and Europe. In March 2014, CVC raised IDR2.5 trillion (approximately US$215 million) by selling a 6.5 percent stake in Matahari. Separately, CVC has signed a memorandum of agreement to sell South Korea-based kimchi refrigerator maker WiniaMando to South Korea-based food service company Hyundai Green Food for around KRW150 billion (approximately US$144.7 million). CVC originally acquired a stake in the company in 1999. The transaction is subject to Hyundai completing its due diligence on WiniaMando.