Dennis Uy inks deal for FamilyMart PH

Davao-based businessman Dennis Uy is venturing into the convenience store business, on Monday inking a deal to purchase the local operations of Japan’s FamilyMart via listed firm Phoenix Petroleum Philippines, Inc.

In a disclosure, Phoenix said it had inked a memorandum of understanding with SIAL CVS Retailers, Inc. and Japanese firms FamilyMart Co., Ltd. and Itochu Corp. to acquire 100 percent of Philippine FamilyMart CVS, Inc. (PFM).