Japan’s second-largest convenience store operator FamilyMart Co. will become a wholly owned subsidiary of top shareholder Itochu Corp. after the trading house succeeded in its tender offer for the retailer’s shares.
The deal will lift Itochu’s stake in FamilyMart to 65.7 percent from 50 percent, allowing the trading company to begin the process of delisting the convenience store operator from the first section of the Tokyo Stock Exchange and take it private, the company said in a statement Tuesday.
Unable to view this article?
This could be due to a conflict with your ad-blocking or security software.
Please add japantimes.co.jp and piano.io to your list of allowed sites.
If this does not resolve the issue or you are unable to add the domains to your allowlist, please see this support page.
We humbly apologize for the inconvenience.
In a time of both misinformation and too much information, quality journalism is more crucial than ever.
By subscribing, you can help us get the story right.
SUBSCRIBE NOW
PHOTO GALLERY (CLICK TO ENLARGE)
With your current subscription plan you can comment on stories. However, before writing your first comment, please create a display name in the Profile section of your subscriber account page.