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- Title
Wumart to Acquire CP Lotus Stores in China for $374 million.
- Abstract
The article reports on the acquisition of CP Lotus' assets by Chinese retailer Wumart Stores Inc. It announces that Thai grocery retailer's 36 stores and a 9.99% stake will be acquired by Wumart in a share-swap deal worth $374 million. It states that CP Lotus will hold 19 retail stores in southern China and gain a 13.77 stake in Wumart, which operates 541 stores in China. According to Wumart President Xu Ying, his company will gain prime retail locations in Shanghai and Beijing through the deal with CP Lotus.
- Subjects
CHINA; CP Lotus (Company); WUMART Stores Inc.; ASSET acquisitions; RETAIL industry mergers; STRATEGIC alliances (Business); XU Ying
- Publication
China Business Review, 2013, p21
- ISSN
0163-7169
- Publication type
Article