Walmart to Sell Most of Japan's Seiyu to Rakuten and KKR

FREMONT, CA: Walmart Inc. is selling most of Japanese retailer Seiyu to KKR & Co. and Rakuten Inc. in a deal that values the supermarket chain at 172.5 billion yen ($1.6 billion), as the U.S. giant retreats from its two-decade attempt to crack japan’s retail market under the agreement, private equity fund KKR became the majority owner with a 65% stake, while Japanese e-commerce giant Rakuten Takes 20%.