Dark yellow tint silhoutte of white joints and skyscrapers in the background.
  1. Home >
  2. Perspectives >
  3. Japan Outbound M&A >
  4. Japan's Itochu to raise stake in FamilyMart to 50.1%

SHARE:

Subscribe

Japan's Itochu to raise stake in FamilyMart to 50.1%

19 April 2018. Published by Nigel Collins, Partner, Head of Japan Desk

Itochu to spend $1.1bn for an 11.1 per cent premium in FamilyMart

As reported in today's FT: Japanese trading house Itochu Corp has said it will spend $1.1bn to increase its stake in the country’s second-biggest convenience store chain to 50.1 per cent from its current 41.5 per cent holding. An 11.1 per cent premium on closing price. Smart move to protect a cash rich business. Initial market reaction: FamilyMart shares closed 1.2 per cent lower while Itochu shares closed 1.3 per cent higher.