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.

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