FamilyMart, Uny may put off business integration accord
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Retailers FamilyMart Co. and Uny Group Holdings Co. are mulling putting off the conclusion of a basic accord on their planned business integration to September or later, it was learned on Thursday.
This is because Uny’s work to draw up measures to shore up its slumping general merchandise store operations has been delayed, informed sources said. The two firms originally planned to reach a basic accord this month.
Still, there is no change in their goal of realizing the integration in September 2016 after obtaining approval at their respective general shareholder meetings in May the same year, according to the sources.
FamilyMart, a major convenience store operator, and Uny said in March this year that they had started negotiations on integrating their operations.
Questions & Answers
Q.What is the reason for the potential delay in the business integration agreement?
What is the reason for the potential delay in the business integration agreement?
Uny's work to create measures for improving its struggling general merchandise store operations has been delayed. This has caused the two companies to consider postponing the basic accord.
Q.When was the basic accord originally planned to be concluded?
When was the basic accord originally planned to be concluded?
The two firms originally planned to reach a basic accord this month. The new potential date for conclusion is now September or later.
Q.When do FamilyMart and Uny still aim to complete the business integration?
When do FamilyMart and Uny still aim to complete the business integration?
They still aim to realise the integration in September 2016. This is after obtaining approval at their respective general shareholder meetings in May of the same year.
Q.When did FamilyMart and Uny first announce they were negotiating an integration?
When did FamilyMart and Uny first announce they were negotiating an integration?
FamilyMart and Uny announced in March of this year that they had started negotiations regarding integrating their operations. This was before the current potential delay was known.
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