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Dairy Farm completes Yonghui Superstores stake build

Dairy Farm International Holdings’ wholly owned subsidiary The Dairy Farm Company has acquired a further 286,934,440 shares in Yonghui Superstores for a consideration of about US$190 million.
This maintains Dairy Farm’s shareholding at 19.99 per cent, as has bought a 10 per cent interest and Yonghui chairman Zhang Xuansong has taken a 2 per cent interest.
Yonghui is a Shanghai-listed hypermarket and supermarket operator based in Fuzhou, Fujian province. It has more than 400 retail outlets across China.
Across Asia, Dairy Farm with its associates and joint ventures runs about 6500 outlets, including supermarkets, hypermarkets, convenience stores, health-and-beauty stores, home-furnishings stores and restaurants. It employs more than 180,000 people and its sales last year exceeded $17 billion.
The acquisition was previously announced back in August.

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