The convenience store operator FamilyMart Co. and Ryohin Keikaku Co., which markets products under the Mujirushiryohin brand, are strengthening their existing partnership through a cross-shareholding deal.
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Ryohin Keikaku is to acquire 560,000 of FamilyMart’s outstanding shares, representing a 0.57% stake, for around JPY2bn. FamilyMart is to buy around 2% of Ryohin Keikaku’s outstanding shares, using the proceeds of the sale of its shares to Ryohin to finance the purchase.
The two companies, which were formerly both part of the Saison Group, formed a partnership last year.
