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KKR and Rakuten to Acquire Stakes in Seiyu from Walmart

Walmart Inc., KKR & Co. Inc., and Rakuten, Inc., announced the signing of definitive agreements under which KKR will purchase a majority stake and a new Rakuten subsidiary will purchase a minority stake in Seiyu GK in a deal valuing the business at ¥172.5 billion (approx. $1.6 billion). Under the terms of the agreements, KKR will acquire a 65% stake in Seiyu, and Rakuten will acquire a 20% stake, through a newly created subsidiary focused on retailer digital transformation. Walmart will retain a 15% stake in Seiyu.…