Free Subscription

  • Access 15 free news articles each month


Try one month for $5
  • Unlimited access to news,insights and opinions
  • Quarterly and weekly magazines
  • Independent research reports and forecasts
  • Quarterly webinars with industry experts
  • Q&A with retail leaders
  • Career advice
  • 10% discount on events

Temasek takes stake in AS Watson

Singaporean company Temasek is taking an indirect equity interest of 25 per cent in AS Watson for HK$44 billion (US$5.7 billion).

The remaining 75 per cent will be kept by its parent company Hutchison Whampoa.

AS Watson is a health and beauty retailer, operating more than 10,500 stores in 25 markets in Asia and Europe. It provides personal care, health and beauty products, food and fine wines, as well as consumer electronics and electrical appliances.

The new partnership is expected to further maximise the value and future growth potential of AS Watson, the company said.

“This demonstrates Temasek’s confidence in the growth opportunities and prospects of our retail businesses,” said Hutchison Whampoa Group MD Canning Fok.

Hutchison Whampoa owner Li Ka-shing plans to list AS Watson in Hong Kong and London by June to raise between $5 billion and $6 billion.

Temasek has businesses including financial services, telecommunications, media and technology, transportation and industrials, life sciences, consumer and real estate, as well as energy and resources.

You have 7 free articles.