The Japanese convenience store chain FamilyMart Japan is the subject of a US$5bn takeover bid.
According to reports by Nikkei and Bloomberg, the company will be sold outright to local trading company Itochu. The buyer, which currently holds 50 per cent of FamilyMart business, made the decision to fully purchase the chain last Wednesday in a transaction that is expected to cost between US$4.6bn and $5.5bn.
The business media say the joining of the two businesses will result in a deeper level of cooperation in food procurement, consumer-goods retailing, customer-data analysis and digital payments, among other areas.
In Thailand, the FamilyMart business was completely bought out last May by local operator Central Retail as a precursor to expanding the network in the territory.
