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A Bt890 million ($26.9 million) deal will hand Central Food Retail full ownership of Aeon (Thailand), the Thai supermarket arm of Japan's Aeon Group, adding 30 stores to the buyer's Tops-branded network.
The MaxValu chain has operated in Thailand since 1984, when Aeon established its Thai forerunner, Siam Jusco.
Scope and structure of the deal Aeon (Thailand)'s registered capital stands at Bt890 million, with each share carrying a par value of Bt100. CFR will acquire the entire registered capital.
On completion, Aeon (Thailand) will transfer its business operations and staff to CFR's parent company, Central Retail, and every Aeon outlet will be renamed under the Tops brand.
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