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Business deals

Itochu to take 100% stake in convenience store FamilyMart

Japanese trading house announces buyout will cost $5.4bn

Itochu and FamilyMart will deepen their ties in procurement of food and consumer goods, customer data analysis and digital payments.

TOKYO -- Japanese trading house Itochu announced on Wednesday it will take full ownership of the FamilyMart convenience store chain, raising its stake from just over 50% through a tender offer.

The total cost of the buyout is about 580 billion yen ($5.4 billion). 

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