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Walmart sells majority stake in retailer Seiyu to KKR and Rakuten

Monday 16 November 2020 14:21 CET | News

US-based retailer Walmart has announced it is selling most of Japan-based retailer Seiyu to KKR and Rakuten in a deal that values the supermarket chain at USD 1.6 billion.

Under the agreement, private equity fund KKR will become the majority owner with a 65% stake, while Japanese ecommerce marketplace Rakuten takes 20%, the companies said in a statement. Walmart will retain a 15% minority interest. Rakuten and KKR will seek to shore up Seiyu’s digital operations as demand for online retail grows in Japan amid the pandemic. The new owners are retaining a previously announced plan to re-list Seiyu in the future.

Walmart first invested in Seiyu in 2002 and took it private in 2008. But like other foreign big retailers, including Tesco and France’s Carrefour, it failed to find success in Japan’s notoriously difficult and low-margin supermarket space, and struggled to compete with local rivals such as Aeon and Seven & i, according to Fortune.com.


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Keywords: Walmart, Rakuten, KKR, Seiyu, Japan, US, acquisition, ecommerce, retail, AEON, Tesco, Carrefour, big retail, big merchant, marketplace, Asia, APAC
Categories: Payments & Commerce | Ecommerce
Countries: Japan
This article is part of category

Payments & Commerce