Suning to Buy 27.4% of Japan’s Laox

2009-07-10
Chinese electronics retailer Suning announced on June 24 that it had signed an agreement with Japanese electronics retailer Laox to buy 66.67 million directed additional shares from the company at JPY 12 per share. This is the first time a Chinese retail company is acquiring a Japanese listed company, and is also the first time for a Chinese home appliances chain to enter the overseas market in such a big way.
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