Wal-Mart has increased its stake in a Central American retail chain as part of its drive to expand in Latin America in order to boost international sales.
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According to a report in the News Tribune, the world’s largest retailer said today (16 March) that it has increased its stake in the Central American Retail Holding Co from 33%, which it acquired last September, to 51%. Terms of the deal were not disclosed.
Central American Retail Holding Co is one of Central America’s leading retailers, with a total of 375 outlets.
