Japan retailer Trial to acquire supermarket Seiyu for 380 bil. yen

Japanese discount supermarket chain operator Trial Holdings Inc. said Wednesday it will acquire rival Seiyu Co. for 380 billion yen ($2.5 billion) and make it a wholly owned subsidiary, creating a retail group with sales exceeding 1 trillion yen.Under the deal set to close by July, Trial, whose stronghold is in southwestern Japan, will acquire all shares in Seiyu held by U.S. investment firm Kohlberg Kravis Roberts & Co. and retail giant Walmart Inc. Seiyu operates many stores in Tokyo and its vicinity, as well as in central and western Japan.KKR and Walmart currently hold 85 percent and 15…READ FULL ARTICLE