TOKYO (REUTERS) – US retailer Walmart has agreed to sell most of Japanese supermarket chain Seiyu to investment firm KKR and e-commerce company Rakuten in a deal that values Seiyu at 172.5 billion yen (S$2.22 billion), the companies said.
KKR will buy 65 per cent of Seiyu and Rakuten will acquire a 20 per cent stake while Walmart will retain 15 per cent, the companies said in a joint statement.
The move will enable to Seiyu to accelerate its digital transformation, they said.
