Investing.com — Here is a summary of regulatory news releases from the London Stock Exchange on Friday, 29th November. Please refresh for updates.
Ocado (LON:) said it signed up a big new international customer for its Ocado Smart Platform technology.
It’s agreed a strategic partnership with Aeon, Japan’s largest retailer, to develop the latter’s online grocery business in Japan. It intends to build a network of fulfilment and service centers with a sales capacity around 600 billion yen ($5.5 billion) by 2030, growing to approximately 1 trillion yen by 2035.
Aeon will pay Ocado (LON:) certain upfront fees upon signing and during the development phase, then ongoing fees linked to both sales achieved and installed capacity within each new fulfilment center and service criteria.
The company expects some 25 million pounds in additional operating costs and “minimal” additional capital spending next year as a result, with most of the associated capex coming in the 18 months leading up to the opening of each fulfilment center.
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