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Costco buys remaining stake in Taiwan joint venture for US$1.05 billion

(Source: Reuters )

Costco Wholesale Corp said on Thursday it bought the 45 per cent stake it did not already own in its Taiwan joint venture, Costco-Taiwan, for $1.05 billion.

The deal, executed through a unit, is expected to add to the company’s earnings per share by 1 per cent to 1-1/2 per cent, Costco said in a statement.

The membership-only retailer operates 833 warehouses globally, including 14 in Taiwan. It also runs e-commerce sites in the island.

The purchase comes at a time when Costco’s margins are being squeezed by higher costs arising from supply chain disruptions and the impact of the Russia-Ukraine war.

  • Reporting by Ananya Mariam Rajesh in Bengaluru; Editing by Aditya Soni, of Reuters.

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