By Kosaku NariokaKDDI plans to spend around $3.3 billion to significantly increase its stake in Lawson, one of the largest convenience-store operators in Japan, and jointly operate it with current parent Mitsubishi Corp. After the tender offer is completed, KDDI and Mitsubishi plan to each hold a 50% stake in Lawson. KDDI said it would start the tender offer around April to buy shares of Lawson at Y10,360 each. Lawson shares closed 2.2% higher at Y8,913 on Tuesday. KDDI, which has expanded into banking, insurance and entertainment, said it plans to offer its communication, financial and other services at Lawson stores.

Source: Wall Street Journal February 06, 2024 09:42 UTC