DFIHY DFI Retail Group Holdings Ltd (PK)

LONDON--Pan-Asian retailer Dairy Farm International Holdings Ltd (DFIB.LN) Monday announced that its subsidiary, The Dairy Farm Company Ltd, has agreed to acquire a 19.99% interest in Yonghui Superstores Co. Ltd (601933.SH) by way of subscription of new shares for a consideration of $925 million.

The Dairy Farm Company Ltd has also entered into a business co-operation agreement with Yonghui.

The investment requires the approval of Yonghui's shareholders and the obtaining of certain regulatory approvals in the PRC. The regulatory approval process is expected to take at least six months to complete.

-Write to Razak Musah Baba at razak.baba@wsj.com; Twitter: @Raztweet

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