Japan's Aeon in exclusive talks to buy Tsuruha stake from Oasis (updated)
29/01/2024 08:34
(Adds Aeon spokesperson comment, changes slug to fix typo)
TOKYO, Jan 29 (Reuters) - Japanese retail giant Aeon Co
Ltd 8267.T has entered into exclusive talks with Oasis
Management to acquire shares the Hong Kong-based activist
investor holds in drugstore chain Tsuruha Holdings Inc 3391.T ,
it said on Monday.
Details of how many shares it will acquire and how much it
will pay per share will be subject to negotiations, Aeon said.
Oasis and Aeon each have about a 13% holding in Tsuruha.
An increase in Aeon's stake would add to its drugstore
business, a key growth driver for the firm, which in the same
sector holds 51% of Welcia Holdings 3141.T and 10% of Kusuri
No Aoki Holdings 3549.T .
An Aeon spokesperson said it had notified Tsuruha about its
talks with Oasis for a possible stock purchase. The talks are
being held without approval from Tsuruha, although that is not
required for an acquisition to proceed, the spokesperson added.
Tsuruha declined to comment. Oasis could not immediately be
reached for comment.
(Reporting by Kiyoshi Takenaka, Makiko Yamazaki and Ritsuko
Shimizu; Editing by Jamie Freed and Jan Harvey)
((kiyoshi.takenaka@thomsonreuters.com; +81 3 4563 2788;))