Chinese retailer MINISO to buy nearly 30% stake in Yonghui for $893m

Chinese retailer MINISO to buy nearly 30% stake in Yonghui for $893m

FILE PHOTO: A customer shops at a store of Chinese retailer MINISO Group in Beijing, China September 13, 2021. REUTERS/Tingshu Wang/File Photo

MINISO will take up a 29.4% stake in retailer Yonghui Superstores for 6.3 billion yuan ($893.08 million), the household consumer goods retailer said on Monday, on track to becoming the largest single shareholder in the Chinese firm.

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