Trade: China Resources eyes Wal-Mart
(XFN-ASIA)
Updated: 2006-07-13 08:27
China Resources Vanguard Supermarket, a unit of China Resources Enterprise
Ltd, is in talks to take a stake in a supermarket chain joint venture between
Wal-Mart Stores Inc and Shenzhen International Trust Investment Co Ltd, the
official Shanghai Securities News reported, citing sources close to the deal.
Wal-Mart holds a 65 pct stake in the joint venture with an investment of 185
mln usd while Shenzhen International Trust holds the remaining equity.
The source said China Resources Vanguard may buy a stake in the supermarket
chain by acquiring the equity interest held by the Shenzhen
firm.
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