Japanese supermarket company Aeon has said it will take a majority stake in its affiliate Maxvalu Chubu through a tender offer in order to reinforce group solidarity.

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Aeon plans to spend ¥2.8bn (US$23.27m) on four million shares in Maxvalu Chubu, a medium-sized food supermarket operator, during the period from Wednesday until 29 May, reported Jiji Press.


If the offer is successful, Aeon will increase its stake in Maxvalu Chubu from 36.87% to 52.55%.


Aeon recently acquired a majority stake in Maxvalu Hokkaido, a Sapporo-based supermarket chain, as part of its bid to strengthen the group to withstand competition.

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