HONG KONG, 2015-3-13 — /EPR Retail News/ — Dairy Farm International Holdings Limited announced on 11th August 2014 that its wholly-owned subsidiary, The Dairy Farm Company, Limited, had entered into a conditional agreement to acquire a 19.99% interest in Shanghai-listed Yonghui Superstores Co., Ltd for a consideration of RMB5.69 billion (currently approximately US$908 million). The investment required certain regulatory approvals to be obtained prior to completion.
Dairy Farm is pleased to announce that, on 12th March 2015, the investment in Yonghui Superstores received the final and unconditional approval of the China Securities Regulatory Commission, which is the final regulatory approval required. Completion is expected to take place in approximately one month, at which time the Company will make a further announcement.
Dairy Farm is a leading pan-Asian retailer. The Group, together with its associates and joint ventures, operates over 6,100 outlets – including supermarkets, hypermarkets, convenience stores, health and beauty stores, home furnishings stores and restaurants – employing over 100,000 people, and had total annual sales in 2014 exceeding US$13 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.
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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’.