US retail giant Wal-Mart is keeping quiet about rumours that it has proposed a merger between its Japanese retail unit Seiyu and struggling supermarket group Daiei.
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According to a report in the Yomiuri daily, the majority stakeholder in Daiei Marubeni has been in talks with both Wal-Mart and Aeon in an attempt to revitalise its flagging supermarket group. Marubeni is reportedly considering the sale of a substantial part of its 44.6% stake in the retailer.
Wal-Mart has purportedly proposed merging the operations of Daiei and Seiyu to create Japan’s third-biggest retail group after Seven & I Holdings and Aeon. The proposal includes the eventual unification of Daiei and Seiyu’s brands.
Wal-Mart, who recently exited the German and Korean markets, told just-food that it does not comment on rumour and speculation.
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By GlobalData
