Financial News
Written by: Lin Leqian
2020-08-07 10:02
Last update date: 2020-08-07 10:02Earlier, it was reported that City'super, a Japanese supermarket, might change hands to a Chinese consortium. According to "Bloomberg", according to an email statement, CR Capital, an investment company under China Resources, and a private equity fund completed the acquisition of 65% of the Japanese supermarket, but did not disclose the transaction amount.
At present, the Japanese-funded enterprise Fenix Group holds about 60% of the shares of City'super, and about 39% of the shares are held by Wu Guangzheng, a shareholder of Wheelock. The statement pointed out that the transaction must be approved by the Chinese regulatory authorities and is expected to be completed in the fourth quarter of this year. City'super CEO Wu Jiahua will continue to serve.
Earlier, "Bloomberg" reported that the transaction price is equivalent to 300 million US dollars (about 2.34 billion Hong Kong dollars). CR Capital, an investment company under China Resources, will acquire about 40% of the shares of City'super, and the Feng Group, a subsidiary of China Resources Group and Feng Guojing Brothers The formed joint venture company will purchase 25% of the equity.
Regarding the transaction "Hong Kong 01", we have inquired with CR Capital, Wheelock and Fenix Group CEO Jiang Bingsu, but no reply was received.
Has 20 branches in Hong Kong
Earlier reports indicated that Fenix Group had planned to hold the first round of bidding at the end of March or early April this year. However, due to the new crown pneumonia epidemic, it may be postponed, and travel restrictions made it almost impossible for bidders to conduct on-site inspections in China.
According to data, City Super Group was established in 1996. The first city'super store was opened in the tourist area of Causeway Bay, becoming the first "large lifestyle store" in Hong Kong. According to the official website, the group currently has 3 major brands, including local Japanese supermarket city'super, LOG-ON and cookedDeli. It currently has 20 stores in Hong Kong, 6 stores in Shanghai and 7 branches in Taiwan.
"Bloomberg": City'super received a consortium led by China Resources Group to spend more than 2.3 billion yuan to purchase 65% of the shares
City'super’s proposed sale is rumored to be bid by local Da Masha, China Resources and Yonghui Supermarkets
China Resources Group Wheelock
