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Temasek Holdings buying 25% of A.S Watson; deal worth $7.3 billion

Published on Mar 21, 2014 5:07 PM
 
Temasek Holdings is taking a significant stake in the holding company of health and beauty chain Watsons, as it seeks to boost its exposure to increasingly affluent Asian consumers. -- FILE PHOTO: BLOOMBERG

TEMASEK Holdings is taking a significant stake in the holding company of health and beauty chain Watsons, as it seeks to boost its exposure to increasingly affluent Asian consumers.

The Singapore investment company will fork out US$5.7 billion (S$7.3 billion) for 24.95 per cent of A.S. Watson Group, which has 13 other retail brands in its portfolio, including supermarket chain ParknShop.

Asia's richest person Li Ka-shing, who is offloading the minority stake, will remain in control of A.S. Watson, via his Hong Kong-listed Hutchison Whampoa which owns the firm.

A.S. Watson is the largest international health and beauty retailer with over 10,500 stores operating 14 retail brands worldwide. Its flagship brand Watsons operates over 4,000 stores and more than 900 pharmacies, including in mainland China, Hong Kong, Taiwan and Singapore.

 
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