FamilyMart Uny Holdings Mulling Sale of All Shares in Uny

Economy

Tokyo, Oct. 10 (Jiji Press)--Major Japanese retail group FamilyMart Uny Holdings Co. <8028> is considering selling all of its remaining shares in Uny Co. to Don Quijote Holdings Co. <7532>, informed sources said Wednesday.

By separating the sluggish supermarket business, FamilyMart Uny hopes to concentrate on its mainstay convenience store operations, the sources said.

FamilyMart Uny will sell its 60 pct equity stake in the supermarket unit, based in the central Japan city of Nagoya, to Don Quijote to make it a wholly owned subsidiary of the discount store operator.

FamilyMart Uny is also considering making an investment in Don Quijote.

In August last year, FamilyMart Uny and Don Quijote agreed to form a capital and business alliance.

[Copyright The Jiji Press, Ltd.]

Jiji Press