September 30, 2005

A Controlling Stake in Seiyu

Wal-Mart will finally take a controlling stake in Seiyu:

Seiyu will issue new shares worth Y115bn before the end of the year - of which Y67.5bn will be purchased by Wal-Mart and the remainder by Mizuho Corporate Bank and other unnamed investors.

Wal-Mart's controlling stake will rise to more than 50 per cent from 42.4 per cent.

Posted by Kevin at 2:15 PM