date:Dec 17, 2013
day in a stock exchange announcement.
Announcing the plans in October, Wumart had said the deal would give it an immediate entry into important geographic regions such as eastern China, consistent with Wumarts strategy. The established network and premium locations of the acquired stores would otherwise be difficult to build organically.
Supermarket sales in China last year were 1.8 trillion renminbi, or nearly $300 billion (USD), up 10 percent from 2011, according to figures from Euromonitor