DFI DFI: possibility of a special dividend from the sales of Yonghui Superstores.DFIRG USD stock forum
DFI DFI: possibility of a special dividend from the sales of Yonghui Superstores.$D01 On September 23, 2024, DFI Retail Group announced the sale of its entire 21.1% stake in Yonghui Superstores (601933 CH) to Miniso Group (9896 HK) for a cash consideration of Rmb4.5 billion (US$637 million). This move marks a continuation of DFI’s strategy of scaling back its grocery retail footprint, having previously exited markets in Indonesia and Malaysia.
The Yonghui stake sale is expected to result in a US$128 million loss for DFI, as the carrying value of the stake stood at US$765 million by the end of June 2024. The transaction reduces DFI’s exposure to Mainland China’s struggling offline retail sector, where Yonghui has been grappling with significant losses since FY21.
The Yonghui stake sale is expected to result in a US$128 million loss for DFI, as the carrying value of the stake stood at US$765 million by the end of June 2024. The transaction reduces DFI’s exposure to Mainland China’s struggling offline retail sector, where Yonghui has been grappling with significant losses since FY21.