20 April 2019

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]



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