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7-Eleven Eyes Stake in Thai Convenience Store Chain.
Byline: Phusadee Arunmas
Jan. 15--The operator of the local 7-Eleven convenience store chain has expressed an interest in acquiring a stake in the troubled Family Mart chain in order to secure its position in the face of intensifying competition.
Suwit Kingkaew, the vice-president of CP Seven Eleven Plc, a subsidiary of the Charoen Pokphand Group, said the company would be competing with multi-billionaire liquor tycoon Charoen Sirivadhanabhakdi, who late last year approached Siam Family Mart Co about an investment.
CP Seven Eleven had earlier approached the smaller rival chain but the latter declined to enter into talks at the time.
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Source: HighBeam Research, 7-Eleven Eyes Stake in Thai Convenience Store Chain.