Wal-Mart Set To Finally Buy-Up Seiyu
alaaron | October 22, 2007 at 08:49 amby
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In an effort to consolidate its ownership, Wal-Mart Stores Inc will spend up to 100 billion yen ($878 million) to buy out minority shareholders in Japanese supermarket unit Seiyu Ltd in an effort to turn around the money-losing chain.
The world's largest retailer has invested more than $1 billion in Seiyu since 2002, but has yet to see anything more than temporary upswings in sales amid tough competition with rivals such as Aeon Co.