TOKYO, Nov 16 (Reuters) - U.S retailer Walmart Inc has agreed to sell most of Japanese supermarket chain Seiyu to investment firm KKR and e-commerce company Rakuten in a deal that values Seiyu at 172.5 billion yen ($1.65 billion), the companies said. KKR will buy 65% of Seiyu and Rakuten will acquire a 20% stake while Walmart will retain 15%, the companies said in a joint statement. The move will enable to Seiyu to accelerate its digital transformation, they said. ($1 = 104.6600 yen) (Reporting by Chris Gallagher; Editing by Lincoln Feast)This story has been published from a wire agency feed without modifications to the text. Subscribe to Mint Newsletters * Enter a valid email * Thank you for subscribing to our newsletter.

Source: Mint November 15, 2020 23:37 UTC