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October 1, 2005 | From Associated Press
Wal-Mart Stores Inc. said Friday that it would increase its stake in Japanese retailer Seiyu to more than 50% in a $600-million deal and promoted two executives to facilitate its expansion in the world's second-largest retail market. Wal-Mart, which has held a 42% stake in Seiyu Ltd., will purchase as much as $597 million of a $1-billion issue of ordinary and preferred shares by Seiyu, the Japanese retailer said. Mizuho Corporate Bank Ltd.
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BUSINESS
October 1, 2005 | From Associated Press
Wal-Mart Stores Inc. said Friday that it would increase its stake in Japanese retailer Seiyu to more than 50% in a $600-million deal and promoted two executives to facilitate its expansion in the world's second-largest retail market. Wal-Mart, which has held a 42% stake in Seiyu Ltd., will purchase as much as $597 million of a $1-billion issue of ordinary and preferred shares by Seiyu, the Japanese retailer said. Mizuho Corporate Bank Ltd.
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