Gold Price Jumps Near 2% Above $4,080 as Middle East Tensions Lift Safe-Haven Demand 
Foxconn Wins First SpaceX AI Server Contract Worth Estimated $52 Billion 
Alaska Air Q3 Outlook Misses Estimates as Higher Fuel Costs Weigh on Profit Forecast 
Chalco Shares Jump as Chinalco Plans Up to $300 Million Stake Increase 
Cathay Pacific Sees H1 Profit Surge on Strong Travel Demand 
US-Iran Conflict Escalates as Gulf Attacks Threaten Global Oil Supply 
US Dollar Climbs to Weekly High as Middle East Tensions Lift Treasury Yields and Safe-Haven Demand 
European Stocks Slip as Earnings, UK Inflation and ECB Decision Keep Investors on Edge 
Saudi Oil Tankers Reverse Course as Houthi Threats Disrupt Red Sea Shipping 
Japan Yen Slides Past 163 as Middle East Tensions Lift US Dollar, Oil Prices 
KKR, AEW Seek China Property Sales as Commercial Real Estate Slump Deepens 
South Korea’s Coupang Fine Sparks U.S. Criticism, Raising Concerns Over Bilateral Ties 
Asian Currencies Hold Steady as Middle East Tensions Boost US Dollar, Oil Concerns 
Pakistan Seeks $10 Billion U.S. Exchange Stabilization Fund to Boost Forex Reserves 
Trump Announces 100% Tariff on Generic Drug Imports Starting in 2028 
US Stock Futures Hold Steady as Tesla, Alphabet Earnings and Iran Conflict Dominate Market Focus 
Samsung Biologics Launches $1.81 Billion Bid to Acquire PolyPeptide 
Lotte Corp. revealed late last week that it has pushed through with the deal to acquire Ministop Korea. The South Korean retail company is buying the entire stake at the Korean unit of the convenience store chain for ₩313.37 billion or around $263 million in US dollars.
According to Yonhap News Agency, it was agreed through the deal that Lotte Corp. will be taking over the operations for a total of 2,600 Ministop convenience store outlets in South Korea. In addition, the company will also be taking control of 12 logistics centers from Aeon Group, Ministop's parent company, to further boost its retail business.
The acquisition is expected to help Lotte compete with the leading convenience store chains in the country, including GS Group's GS 25 and CJ Group's CU stores. Lotte will also be able to overtake and widen its gap with the fourth placer, in terms of market share, which is Shindegae's E-mart24. At the time of the purchase, Ministop is the fifth largest convenience store in S. Korea.
Lotte also operates all the 10,500 store outlets of 7-Eleven across the nation. In comparison, CU runs 14,900 stores while GS 25 is in second place with 14,600 outlets in all.
The Korea Economic Daily further reported that Lotte Group is buying Ministop Korea in cash. It can afford to do so since the company operates the biggest department store chain in the country. Lotte also runs the second-biggest discount store chain in terms of sales.
"Competition is heating up in the quick commerce market for short-distance services, based on convenience stores," an official from Lotte Corp. said in a statement. "We are now adding Ministop Korea's 2,600 stores and 12 logistics centers to the list of our stores which will expand our points of customer contact in the near term."
Meanwhile, the first Ministop convenience store opened in South Korea in 1990. The chain is a member of ÆON Group, which operates the brand's convenience store franchise chain in Japan. It was reported that based on the regulatory filing, Lotte's acquisition of Ministop Korea is set to be finalized on Feb. 28.
