Investcorp, China Resources invest in HK supermarket chain City Super

Investcorp, a Bahrain-based alternative asset manager, announced on Tuesday that it has entered into an agreement alongside China Resources Capital Management (CR Capital) to acquire a majority stake in Hong Kong’s premium supermarket chain City Super Group.

Existing shareholders, including Fenix Group and the Lane Crawford Joyce Group (LCJG), will continue to hold a 35 per cent stake in City Super Group. The transaction is subject to China’s merger control approval and is expected to close in the fourth quarter of 2020.

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