Date
17 August 2017

Wumart, CP Lotus acquisition deal collapses, filing says

The deadline for Wumart Stores’ (01025.HK) proposal to buy most of CP Lotus Corp.’s (00121.HK) mainland supermarkets has lapsed and a framework agreement the two companies signed in mid-October for the deal will not be extended, CP Lotus said in a regulatory filing Monday. The companies failed to agree on certain key terms of the HK$2.34 billion (US$303.07 million) deal, the filing said without disclosing further details.

– Contact HKEJ at [email protected]

MY/AC/SK

 

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