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Jardines Reportedly In Talks to Acquire PARKnSHOP from CKH, Merger with Wellcome Possible
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Jardines is in talks with CKH HOLDINGS (00001.HK) to acquire the latter's supermarket business PARKnSHOP and merge it with Wellcome, a wholly owned subsidiary of DFI Retail under Jardines, the Financial Times reported, citing four people familiar with the matter. Both sides have been negotiating the deal for some time but declined to disclose valuation details, sources divulged. In 2023, PARKnSHOP and Wellcome together accounted for nearly 90% of Hong Kong's supermarket market share. However, amid intensifying market competition in recent years, one person involved said that the combined market share of PARKnSHOP and Wellcome after the merger could fall below 50% based on internal assessments. Auto-translated by AI AASTOCKS Financial News |
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