Japanese retailer Aeon has indicated that it will increase its shareholding in CFS Corp. by an additional 18% and take a controlling stake in the business.

The move will see Aeon take 51% stake of the firm, having gradually built up ownership of 33% of outstanding shares.

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The transaction is expected to close by the end of the month, the company said.

CFS operates pharmacies and supermarkets in Japan. 

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