JAKARTA: A unit of private equity firm CVC Capital Partners has raised 3.67 trillion rupiah ($292.94 million) by selling an 8 percent stake in Indonesia's Matahari Department Store Tbk, IFR reported on Monday.

CVC sold 238.6 million Matahari shares at 15,400 rupiah each in a block trade, reported IFR, a Thomson Reuters publication.

Matahari shares fell as much as 4.2 percent to 15,525 rupiah on Monday, underperforming the broader Jakarta stock exchange which declined 1.9 percent.

CVC declined to comment.

Copyright Reuters, 2015