Retailer MINISO Acquires Nearly 30% Stake in China’s Yonghui for $893 Million, Reports Reuters

MINISO has announced its acquisition of a 29.4% stake in Yonghui Superstores for 6.3 billion yuan, equivalent to approximately $893.08 million. This move positions MINISO to become the largest single shareholder in the Chinese retail firm.

The purchase involves acquiring shares from subsidiaries of the Singapore-based DFI Retail Group and the Chinese e-commerce giant JD.com. The agreed price for the shares is 2.35 yuan each, representing a 3.1% premium over Yonghui’s stock price as of September 20.

The deal was facilitated by Guangdong Juncai International Trading, MINISO’s branch in China, which negotiated with various sellers, including a unit owned by the British conglomerate Jardine Matheson.

To finance the acquisition, MINISO plans to utilize a combination of internal resources and external funding.