Joint venture for C-stores in Beijing finalized.(Beijing Shoulian Commerce Group Corp. Ltd., China National Sugar & Alcohol Group Corp.)(convenience stores)(Brief Article)

Food Institute Report, The, April, 2004

Seven-Eleven Japan Co. will open its first store in Beijing on Apr. 15, the first of five outlets to begin operations in the Chinese capital before the end of May. The $70 million effort will be a joint venture between Seven-Eleven Japan, which will hold a 65% stake, Beijing Shoulian Commerce Group Corp. Ltd., with a 25% stake and China National Sugar & Alcohol Group Corp., with a 10% stake.

Initial retail operations will focus on Beijing and the eastern port city of Tianjin, as well as the northern province of Hebei under a regional licensing agreement with Dallas, TX-based 7-Eleven Inc.

The joint venture plans to open 50 outlets this year and up to 500 stores within the area in the next five years, with an annual sales target of $300 million....

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