Magazines Archives - 2007 April

Aeon buys a stake in flagging Daiei
Story 13

JAPANESE supermarket chain Aeon is buying a 15% stake in flagging retailer Daiei for ¥46.2 billion (approximately US$388 million) from the latter’s largest stakeholder, Marubeni Corp, which currently holds 44.6%. The move is expected to create the largest alliance in Japan.

Under the deal, Aeon will also buy 20% of Daiei’s supermarket operator, Maruetsu, for ¥16.5 billion.

Aeon expects the partnership to see combined sales of all three operations exceeding ¥6 trillion, surpassing current market leader Seven & I Holdings’ estimated annual figure of ¥5.5 trillion.

Other terms include Aeon and Marubeni buying ¥10-billion worth of each other’s stocks over three months, the posting of two Aeon executives to Daiei’s board to assist in management. Daiei currently has nine board members.


2007 April Stories:

Developing economies spearhead retail sales growth in the region

Seiyu expects to recover from the red with gains

Tangs to make regional forays, beginning with KL

Vietnam to modernise in hopes of generating higher retail sales

Metro to build largest store in China

Daimaru’s purchase of Matsuzakaya will create largest Japanese store chain

Shoppers’ Stop to buy 19% of HyperCity

FJ Benjamin acquires exclusive rights to retail Celine in South-east Asia

edc takes first bow outside Europe in S’pore

Li & Fung buys Tommy Hilfiger’s sourcing operations

Sweden’s H&M opens in Asia

Landmark embarks on growth path in Kolkata

China sees fastest sales rise in 2 years

Aeon buys a stake in flagging Daiei

7-Eleven cash exchange round the clock

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