16 November 2020
Walmart, KKR and Rakuten have signed an agreement that will change the ownership structure of Seiyu in Japan.
New ownership structure
In a deal worth JPY172.5bn (approx. US$1.6bn), KKR will acquire 65% majority stake in Seiyu, Rakuten will acquire a 20% stake, through a newly created subsidiary, and Walmart will retain 15%. The transaction is subject to regulatory approvals and is expected ...