Walmart Inc. is selling a majority stake in Japanese supermarket chain Seiyu to investment firm KKR and e-commerce company Rakuten for more than $1 billion, after years of struggling to make money amid stiff competition.
The deal, which values Seiyu at 172.5 billion yen ($1.65 billion), comes after on-off speculation about the U.S. retail giant looking to exit Japan. It is well below the 300–500 billion yen it reportedly sought a few years ago.
