AEON Stores (Hong Kong) Co., Limited (HK:0984) has released an update.
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AEON Stores (Hong Kong) Co., Limited has engaged in a discloseable transaction, leasing premises for a new retail venture for over 10 years, with the lease agreement initiating an asset acquisition valued at approximately RMB17.6 million. The transaction, which does not require shareholder approval, will see the company operating its retail businesses in a strategic location, with the total base rent and management fees reaching around RMB35.4 million over the lease term. This move is expected to have significant implications for AEON Stores’ retail footprint and financials.
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