Japanese retail conglomerate Aeon is in exclusive discussions with Hong Kong-based activist investor Oasis Management to acquire its shares in Tsuruha Holdings, a prominent drugstore chain. The specifics of the deal, including the number of shares and the price per share, are currently under negotiation. This move is a strategic effort by Aeon to strengthen its position in the drugstore business, which is a vital component of its growth strategy.
Aeon and Oasis Management each hold approximately 13% of Tsuruha. By increasing its stake, Aeon seeks to bolster its drugstore portfolio, which already includes a 51% ownership of Welcia Holdings and a 10% stake in Kusuri No Aoki Holdings.
An Aeon spokesperson confirmed that the company has informed Tsuruha about its ongoing discussions with Oasis regarding a potential stock purchase. Notably, these talks are proceeding without Tsuruha’s approval, although such consent is not mandatory for the acquisition to advance.
As of now, Tsuruha has not issued any comments on the matter, and attempts to reach Oasis for a statement have been unsuccessful. This potential acquisition underscores Aeon’s commitment to expanding its footprint in the healthcare and retail sectors, aligning with its broader business objectives.
