China CVS to buy Morgan Stanley Asia PE-backed convenience store chain for $84m

China CVS to buy Morgan Stanley Asia PE-backed convenience store chain for $84m

China CVS – an investment holding company jointly formed by HKEX-listed Greentown Service Group, Xianlife, and ExFresh – is fully acquiring Idea Thrive Limited that operates a chain of convenience stores in China and Hong Kong from its existing shareholders for an aggregate consideration of $84 million, as per a stock exchange filing on Sunday.

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