Dairy Farm completes 20% acquisition in Yonghui Superstores
For a total consideration of RMB5.69b.
Yonghui is one of the largest supermarket operators in China.
According to RHB, Dairy Farm International has completed its investment to acquire a 20% interest in Yonghui Superstores, by subscription of new shares, for a total consideration of RMB5.69b
This transaction is expected, and the company had received final regulatory approval on 13th March 2015 after initiating announcing the deal on 11th August 2014. The deal
will include a strategic alliance with Dairy Farm in China, in areas such as procurement, private label products and logistics.