Wal-Mart to Acquire China’s 2nd-largest Hypermarket Chain – James Politi and Lauren Foster

From Financial Times:

, the world’s largest retailer, on Monday night appeared close to sealing a landmark $1bn acquisition in China, after emerging as the leading bidder in a year-long auction for Trust-Mart, China’s second-largest hypermarket chain.

People close to the negotiations said that Wal-Mart had edged out France’s Carrefour and local competitors, but cautioned that the details remained to be finalised and the deal could still fall through at the eleventh hour.

A purchase of Trust-Mart, which is privately-owned by Taiwanese entrepreneurs, would represent one of Wal-Mart’s largest acquisitions in recent years. It highlights how China has become an important battleground for international supermarket chains as its rapid urbanisation and rising standards of living are creating a new consumer class. [Full Text]

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