Dairy Farm International Hldgs Ltd Dairy Farm Completes Fur Inv In Yonghui Superstore (8225G)
August 10 2016 - 7:46AM
UK Regulatory
TIDMDFI TIDMJAR TIDMJDS
RNS Number : 8225G
Dairy Farm International Hldgs Ltd
10 August 2016
To: Business Editor For immediate release
DAIRY FARM COMPLETES FURTHER INVESTMENT IN YONGHUI
SUPERSTORES
10th August 2016 - Dairy Farm International Holdings Limited
today announced that its wholly-owned subsidiary, The Dairy Farm
Company, Limited, has completed the acquisition of a further
286,934,440 shares in Yonghui Superstores Co., Ltd ('Yonghui') for
a consideration of approximately US$190 million.
The acquisition, which is alongside an acquisition by JD.com of
a 10% interest and by Mr. Zhang Xuansong, the Chairman of Yonghui,
of a 2% interest, maintains Dairy Farm's shareholding in Yonghui at
19.99%.
The acquisition was first announced on 7th August 2015, and had
been subject to the receipt of the necessary regulatory approvals.
The number of shares subscribed by Dairy Farm was adjusted from the
amount originally announced to take account of a bonus issue of
shares made by Yonghui in June 2016.
Yonghui is a Shanghai-listed hypermarket and supermarket
operator based in Fuzhou, Fujian province in mainland China. As at
31st March 2016, Yonghui operated 412 retail outlets across
China.
Dairy Farm is a leading pan-Asian retailer. The Group, together
with its associates and joint ventures, operates some 6,500 outlets
- including supermarkets, hypermarkets, convenience stores, health
and beauty stores, home furnishings stores and restaurants -
employing over 180,000 people, and had total annual sales in 2015
exceeding US$17 billion. Dairy Farm International Holdings Limited
is incorporated in Bermuda and has a standard listing on the London
Stock Exchange as its primary listing, with secondary listings in
Bermuda and Singapore. It is a member of the Jardine Matheson
Group.
- end -
For further information, please contact:
Dairy Farm Management Services Limited
Lancy Ng (852) 2299 3011
Brunswick Group Limited
Siobhan Xiaohui Zheng (852) 3512 5044
This and other Group announcements can be accessed through the
Internet at www.dairyfarmgroup.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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