Japan’s FamilyMart in talks to fully divest Uny unit stake to Don Quijote

Photo: Bloomberg

FamilyMart Uny Holdings Co is considering selling the rest of its Uny general merchandise store unit to discount retailer Don Quijote Holdings Co, Nikkei Business magazine reported on Wednesday.

The Japanese convenience store operator plans to make a final decision on the sale as early as the middle of this month, the report said. It may also be considering an investment of around 20 percent in Don Quijote, the report said, without citing sources.

Shares in FamilyMart gained 5 percent and Don Quijote jumped 9.4 percent in Tokyo after the report.

A spokesman at FamilyMart said nothing had been decided, when asked about the report. A Don Quijote spokeswoman declined to comment.

Looking to expand but faced with a shortage of suitable suburban locations, Don Quijote, popularly known as “Donki” in Japan, last year took a 40 percent stake in Uny, the general merchandise store unit of FamilyMart Uny.

Don Quijote also said in August it would be interested in buying Warmart Inc’s Seiyu supermarket unit.

Reuters

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

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  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.