MINISO Group Holding (MNSO) has entered into share purchase agreements with certain shareholders of Yonghui Superstores Co., to acquire an aggregate of 29.4% of the issued and outstanding shares of Yonghui for a total cash consideration of approximately RMB 6.3 billion. Upon the consummation, the company expects to become the largest single shareholder of Yonghui. The share purchase agreements were entered into between Guangdong Juncai International Trading Co., a PRC subsidiary of the company, and the respective sellers. Guangdong Juncai will pay to each seller a cash consideration based on a per share price of RMB 2.35.
Yonghui is a retail chain operator in China, listed on the Shanghai Stock Exchange. It operates approximately 850 supermarkets, offering fresh produce and daily necessities to consumers across China.
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