Lawson Seeks To Make Ninety-Nine Plus A Subsidiary

July 2008 | Company Finance Alert

Japanese convenience retailer Lawson Inc is to invest JPY4bn (US$37.5mn) in turning fresh food convenience rival Ninety-Nine Plus into a majority-owned subsidiary. Lawson will bid JPY76,000 (US$713) per share to increase its existing 34.23% stake in Plus by a further 30%. The deal is in line with Lawson's two-pronged strategy for achieving growth in Japan's fiercely competitive convenience retail market: pursue acquisitions and tailor product mix to meet the ever-changing needs of demanding local

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