In Japan, Seiyu Ltd. said last Friday that Wal-Mart Stores has completed its acquisition of more than 192 million shares in the company, boosting its percentage of Seiyu to about 34 percent and becoming its biggest shareholders.
The stock buy by Wal-Mart unit was the first in a series of potential purchases that the two companies agreed to earlier this year; depending on how it plays out, Wal-Mart could own two-thirds of the company by 2007.
The stock buy by Wal-Mart unit was the first in a series of potential purchases that the two companies agreed to earlier this year; depending on how it plays out, Wal-Mart could own two-thirds of the company by 2007.
- KC's View:
- The likelihood that Wal-Mart eventually will own most of Seiyu, in our estimation, is about equal to the probability that the sun will rise in the east and set in the west.
