7-Eleven Malaysia ventures to pharmacy business in Indonesia
The proposal is expected to be completed in 2022.
A 7-Eleven Malaysia unit will establish a pharmacy business in Indonesia called Era Caring Indonesia in a joint venture with pharmacy wholesale company Era Prima Indonesia (EPI), the convenience chain revealed in a bourse filing.
7-Eleven’s 75%-owned subsidiary Caring Pharmacy Retail Management (CPRM) has agreed to subscribe for a 50.1% stake in the company for $346,280 (IDR5.03b) to undertake the distribution business of pharmaceutical products with EPI.
The business plans to distribute products such as medicine, vitamins, supplements, cosmetics, personal care, health food and beverages and baby products.
The proposal is expected to be completed in the first half of 2022.