According to a report in the Nihon Keizai Shimbun on Friday (1 September), Japan’s Daiei intends to sell 39 outlets in a move expected to raise JPY80bn (US$682.1m).
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As part of its efforts to rehabilitate the grocery chain, its top shareholder Marubeni will sell a portion of its stake to another retailer. Likely candidates include Aeon and Wal-Mart.
Proceeds from the sale will be used to reduce debt Marubeni said, which in turn will help the company’s negotiating position.
