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BRIEF-Three F signs business combination contract with Lawson
April 12, 2017 / 8:10 AM / 8 months ago

BRIEF-Three F signs business combination contract with Lawson

April 12 (Reuters) - Three F Co Ltd :

* Says the company enters into a business combination contract with Lawson, as a step of capital and business alliance formed with Lawson Inc previously

* Says the company plans to transfer partial convenience store business (operation of 281 stores under the brands of three F, q’s mart and gooz) to its new wholly owned subsidiary L.TF.PJ (the new unit) which will be set up on June 1 and located in Kanagawa prefecture

* Co will split partial rights and obligations in the new unit to Lawson, with transaction amount of 11.7 billion yen

* Co plans to transfer stake to Lawson in co’s unit which was established on Sept. 7, 2016, to ensure that co and Lawson will hold a 51 percent stake and a 49 percent stake respectively after transaction

* Lawson will pay 3.3 billion yen accordingly, for the stake transfer

Source text in Japanese: goo.gl/hdj30O ; goo.gl/VKXbWy

Further company coverage: (Beijing Headline News)

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