Japanese drug stores Matsumotokiyoshi and Cocokara Fine joined forces
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Japanese pharmacy chains Matsumotokiyoshi and Cocokara Fine are entering into a merger.
Under the terms of the new agreement – if approved by the boards of both sides – shares in the two firms will be transferred to a new business entity, with the transaction expected to be completed by October next year
The company that emerges from the new deal will lead the health and beauty market, with 3000 outlets trading at around ¥1 trillion (US$9.2 billion).
Cocokara was previously courted for a merger by Sugi Holdings, although the firm ultimately decided to partner with Matsumotokiyoshi.
Questions & Answers
Q.What is the expected timeline for the completion of this merger between the two pharmacy chains?
What is the expected timeline for the completion of this merger between the two pharmacy chains?
The transaction for the merger between Matsumotokiyoshi and Cocokara Fine is expected to be completed by October of next year, pending approval from the boards of both companies.
Q.What is the estimated market value of the new company formed by the merger?
What is the estimated market value of the new company formed by the merger?
The company emerging from this new deal is expected to have an estimated market value of around ¥1 trillion, which translates to approximately US$9.2 billion.
Q.How many outlets will the combined new entity operate?
How many outlets will the combined new entity operate?
The new business entity formed by the merger of Matsumotokiyoshi and Cocokara Fine will operate a total of 3000 outlets once the transaction is completed.
Q.Which other company had previously attempted to merge with Cocokara Fine?
Which other company had previously attempted to merge with Cocokara Fine?
Cocokara Fine had previously been approached for a merger by Sugi Holdings, before ultimately deciding to partner with Matsumotokiyoshi instead.
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