Sumitomo Corporation cancelled the acquisition of 12.7% stake in Simple Mart Retail Co., Ltd. from Mercuries & Associates,Holding Ltd..
May 10, 2019
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Sumitomo Corporation (TSE:8053) agreed to acquire 12.7% stake in Simple Mart Retail Co., Ltd. from Mercuries & Associates,Holding Ltd. (TSEC:2905) for approximately TWD 740 million on May 11, 2018. Mercuries & Associates,Holding Ltd. will sale 6.8 million shares for TWD 109.1 per share. The transaction is approved by the Board of Directors of Mercuries & Associates,Holding Ltd. The transaction is expected to close on August 31, 2018.
Sumitomo Corporation (TSE:8053) cancelled the acquisition of 12.7% stake in Simple Mart Retail Co., Ltd. from Mercuries & Associates,Holding Ltd. (TSEC:2905) on May 11, 2019.
SIMPLE MART RETAIL CO., LTD. is a Taiwan-based company mainly engaged in retail of consumer goods, as well as the online and retail stores business under the brands of Mei Lian She, Da Mei Discount Supermarket, Xi Pu Market, Yole, Mei Lian Cheng Chao, Go Mei Lian and OFFICE Mart. The Foods business includes fresh foods, eggs, drinks, biscuits, snack foods and canned foods. The Tobacco and Alcohol business includes cigarettes, beer, spirits, and edible wine. The Other Commodity business includes household products, personal cleaning products and hardware. The Service business includes various collection fee service and venue rental service.
SIMPLE MART RETAIL CO., LTD. 
