US retail giant Wal-Mart is reported to be considering investing in struggling Japanese retailer Daiei in order to increase its presence in Japan.
Wal-Mart has hired Dresdner Kleinwort Wasserstein and Goldman Sachs Group to advise the retailer on the investment potential of Daiei, Reuters reported, citing a financial source.
Wal-Mart is one of several parties rumoured to be interested in investing in Daiei, which has been struggling to improve performance and cut its large debt.
Wal-Mart already has a presence in Japan, through its 37.8% stake in supermarket chain Seiyu.
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By GlobalData