Emart Joins Acquisition Battle for Ministop, 5th Largest Convenience Store Chain

[Asia Economy Reporter Yoo Hyun-seok] Emart is participating in the acquisition battle for Korea Ministop.

On the 2nd, according to the distribution industry, Emart24 submitted a preliminary bid application to Samil PwC, the sales agent for Ministop.

Along with this, four private equity fund (PEF) management firms, including Anchor Equity Partners, are also known to have participated in the preliminary bidding. Samil PwC plans to select qualified acquisition candidates and proceed with the main bidding next month.

The number of Ministop stores was counted at 2,603 as of last year. If Emart24 absorbs them, the number of stores will increase to about 8,000.

Korea Ministop is the Korean subsidiary of the Japanese convenience store Ministop. Japanese Ministop, a subsidiary of the Aeon Group, holds 100% of the shares of Korea Ministop.