TOKYO -- U.S. investment company KKR and Japanese e-commerce major Rakuten on Monday announced that the two companies will buy 85% of Seiyu, the Japanese supermarket chain owned by U.S. retail giant Walmart.
KKR will hold 65% of Seiyu's business, while Rakuten is to obtain 20%. Walmart will hold on to the rest. The three companies agreed to value the business at 172.5 billion yen ($1.6 billion) for the deal.
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