Walmart: KKR and Rakuten to take stakes in Seiyu

(CercleFinance.com) - KKR will take a majority stake in Walmart's Japanese supermarket chain Seiyu, while Rakuten will buy a minority stake in the company, in a deal worth around 1.
6 billion dollars, the companies said on Monday.

Under the terms of the deal, KKR will acquire a 65% stake in Seiyu, and Rakuten will acquire a 20% stake, through a newly created subsidiary focused on the retailer's digital transformation.

Walmart, which took its first stake in Seiyu 18 years ago, will retain a 15% stake.

Together, the three companies plan to support Seiyu's efforts to become Japan's biggest omnichannel retailer, they said in a statement.

The deal is expected to close in the first quarter of 2021.

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