DFI DFI: possibility of a special dividend from the sales of Yonghui Superstores.DFI RETAIL GROUP HOLDING LIMITED ORD USD5 5/9 CENTS(JERSEY REGD) stock forum
DFI DFI: possibility of a special dividend from the sales of Yonghui Superstores.D01 On September 23, 2024, DFI Retail Group announced the sale of its entire 21.1% stake in Yonghui Superstores (601933 CH) to Miniso Group (9896 HK) for a cash consideration of Rmb4.5 billion (US$637 million). This move marks a continuation of DFI’s strategy of scaling back its grocery retail footprint, having previously exited markets in Indonesia and Malaysia.The Yonghui stake sale is expected to result in a US$128 million loss for DFI, as the carrying value of the stake stood at US$765 million by the end of June 2024. The transaction reduces DFI’s exposure to Mainland China’s struggling offline retail sector, where Yonghui has been grappling with significant losses since FY21.