Dairy Farm gets regulatory approval for Yonghui stake buy

Reuters

13 March 2015 at 6:38 am

SINGAPORE, March 13 (Reuters) - Dairy Farm International Holdings said on Friday it has obtained final approval from China Securities Regulatory Commission for its $908 million deal to buy a 19.99 percent stake in Shanghai-listed Yonghui Superstores Co.. The deal was announced in August last year. Dairy Farm, the Asian retail arm of Jardine Matheson, operates supermarkets and retail stores such as Wellcome in Hong Kong, and 7-11 convenience stores in both Singapore, Hong Kong and China. Dairy Farm together with its associates and joint ventures operates over 6,100 outlets in Asia. (Reporting by Saeed Azhar; Editing by Keith Weir)

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