FamilyMart to sell stake in Uny to Japanese discounter Don Quijote
Reuters, Thursday, Oct 11, 2018
Japanese convenience giant FamilyMart has offered to sell its entire stake in struggling general-merchandising unit Uny to discount retailer Don Quijote. In a two-way deal, FamilyMart has also proposed to take a 20% stake in Don Quijote for USD1.9 billion. The deal allows the FamilyMart to focus on its convenience stores, which have been far more profitable than the Uny shops but are facing growing competition from discount stores and online businesses.