Sundrug, a Japanese drugstore operator, has announced that it will form a joint venture (JV) with Japan-based Arcs Group.
The former will have a majority stake of 60% in the venture, with the remaining held by the latter. The JV will manage drug and other retail stores starting from June.
Vivendi has agreed to purchase a 15% equity in Groupe Fnac, which will give it access to approximately 15% of the latter’s capital. The deal was finalised at a total value of $181.15m.
The deal will provide an impetus to Groupe Fnac’s growth plans.
Lowe’s Companies has announced a $250m offering of floating rate notes due 2019, $350m of 1.15% notes due 2019, $1.35bn of 2.50% notes due 2026 and $1.35bn of 3.70% notes due 2046 to the public.
The expected net proceeds from the offering will be $249.375m, $345.75m, $1.33bn and $1.33bn respectively.
All the proceeds from the offering are expected to be used principally for funding the company’s planned acquisition of RONA, repayment of $475m principal amount due on 15 April on maturity of its 2.125% notes, and repayment of $550m principal amount which is due in 15 October on maturity of its 5.4% notes. Part of the proceeds will also be used for other general corporate purposes.
The Muir Electrical Company, operating as The Good Guys, is reported to be planning for an initial public offering (IPO) to raise $377.47m.
Helfen Corporate Advisory has been appointed as the financial adviser to explore a possible IPO and listing on the Australian Securities Exchange.
Lazada Group has announced to issue new shares worth approximately $500m to Alibaba Group Holding, which has simultaneously entered into an agreement to acquire a controlling stake in the former from Tesco, Rocket Internet and Kinnevik for the same amount.
Thrifty Foods, a subsidiary of Sobeys, has agreed to buy two stores from Metro Liquor Stores.
The stores will be branded as Thrifty Foods Liquor following the deal, marking Thrifty Foods’ entry into the liquour business.
Image: Thrifty Foods will enter the liquor with the acquisition of two Metro Liquor Stores. Photo: courtesy of William J Serson via flickr.