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On 1st November 2012, Aeon Co Ltd, which is the big retail store in Japan, has

announced the completion of the share purchase of Carrefours Malaysian operations which
is Malaysia's fourth-largest retailer with 26 hypermarkets for about 15.1 billion yen. Aeon had
entered into a share purchase agreement to acquire 100 per cent of the shares of
Carrefour's Malaysian hypermarket operating subsidiary, Magnificient Diagraph Sdn Bhd,
and Carrefour Malaysia Sdn Bhd, which owns 9.3 per cent of voting rights in the latter from
Carrefour S.A and its subsidiaries. Aeon Asia Sdn Bhd has changed one of its subsidiaries
names, from Magnificient Diagraph Sdn. Bhd. to Aeon BIG (M) Sdn Bhd.
AEON Co Ltd (Japan) using a new entity, Aeon BIG (M) Sdn Bhd, to acquire
Carrefours Malaysian operations. Aeon BIG (M) Sdn Bhd and AEON Co (M) Bhd will run as
separate entities. Carrefours existing stores in Malaysia will be converted and rebranded as
Aeon BIG, a hyper mart chain that will cater for family consumers. After the Carrefour
Malaysia acquisition, the AEON group owns a total 55 stores including 26 Carrefour stores.
The group is targeting to open 100 stores in various formats in Malaysia and aims to achieve
300 billion yen in revenue by 2020.
Aeon Co Ltd is very bullish on the buyout of Carrefour despite the acquisition of
Carrefour Malaysia's operations relatively pricey. They think the move projected can further
strengthen their presence in Asean and provide them with the opportunity to expand on their
existing roots in Malaysia. We are trying to expand our business in South-East Asia
because there is a growth market, Aeon's Asean business vice-president and chief
executive officer Nagahisa Oyama says.
Aeon was established in 1984 in Malaysia and ranks as Malaysia's third largest
retailer with 25 department stores and four supermarkets and the largest retailer in Japan.
Meanwhile, Carrefour set up its Malaysian operations in 1994 is the fourth biggest retailer
that generated sales of RM1.6 billion in the 12 months to June 30 2012. After the acquisition
of Carrefour Malaysia, Aeon becomes the second largest retailer group in Malaysia.