Costco buys remaining stake in Taiwan joint venture for US$1.05b
Add BT as a preferred source
COSTCO Wholesale said on Thursday (Jun 30) it bought the 45 per cent stake it did not already own in its Taiwan joint venture, Costco-Taiwan, for US$1.05 billion.
The deal, executed through a unit, is expected to add to the company's earnings per share by 1 to 1-1/2 per cent, Costco said in a statement.
The membership-only retailer operates 833 warehouses globally, including 14 in Taiwan. It also runs e-commerce sites in the island.
The purchase comes at a time when Costco's margins are being squeezed by higher costs arising from supply chain disruptions and the impact of the Russia-Ukraine war. REUTERS
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Share with us your feedback on BT's products and services
TRENDING NOW
Knight Frank winds down real estate agency unit, agents to move to OrangeTee & Tie
Laos wants more control of its gold – by building the bullion market it never had
Keppel to divest six oil rigs through new private fund for S$1.2 billion
Stocks to watch: Keppel, FCT, Clas, KIT, ESR-Reit, Kore US Reit, Ever Glory, UIB Reit
