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SCMP Reporter

Guangnan (Holdings) is to buy 70 per cent of Kitty & Kettie Supermarket, the territory's fourth biggest supermarket.

 It said it would buy the $19 million stake from the family of Ocean Land Development's chairman Chow Wen-hsien.

  Established in 1986, KK Supermarket has 22 outlets with total turnover last year of about $400 million.

  Guangnan's move follows the two equity joint ventures it formed this year with Guangzhou Nanfang Dasha Co and Tienmei Supermarket Co to develop supermarket business in China.



Guangnan in KK stake deal