TOKYO (Reuters) – U.S retailer Walmart Inc <WMT.N> has agreed to sell most of Japanese supermarket chain Seiyu to investment firm KKR <KKR.N> and e-commerce company Rakuten <4755.T> in a deal that values Seiyu at 172.5 billion yen ($1.65 billion), the companies said.
KKR will buy 65% of Seiyu and Rakuten will acquire a 20% stake while Walmart will retain 15%, the companies said in a joint statement.
The move will enable to Seiyu to accelerate its digital transformation, they said.
(Reporting by Chris Gallagher; Editing by Lincoln Feast)
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