SINGAPORE (March 23): Dairy Farm International's wholly-owned Rustan Supercentres will be partnering Philippine-listed Robinsons Retail to build a leading food retail business in the Philippines.

Robinson’s main formats are supermarkets, department stores, do-it-yourself stores, drugstores, convenience stores and apparel stores, and it also holds a minority interest in Robinsons Bank.

In the partnership, Dairy Farm will be exchanging its interest in Rustan for new shares in Robinsons, which represents 12.2% of its enlarged share capital worth US$346 million (S$454.9 million), while also acquiring...(click on link for full story on theedgesingapore.com)