International Business

Walmart is occupying the familiar role of corporate villain again this week as new details emerge regarding a fire that killed 112 people at a Bangladesh apparel factory used by one of the retailer’s suppliers.

New York -- British billionaire Sir Philip Green, the owner of the Arcadia retail group, sold a 25% stake in his fast-fashion Topshop and Topman retail chains to Los Angeles-based Leonard Green & Partners for about $805 million. Arcadia’s other retail divisions include Miss Selfridges, Bhs, and Dorothy Parker.

New York -- Cathy Green Burns, president of Food Lion, has left the company and is being succeeded by Beth Newlands Campbell as part of a major organizational shakeup at Delhaize America, according to published reports. Delhaize America is a division of Brussels-based Delhaize Group. Campbell previously served as president of Hannaford Supermarkets.

ATLANTA — Perdue Partners has aquired Atlanta-based logistics company Benton Express.

It looks likes India’s rules against foreign direct investment in the retail sector will no longer be an impediment to Walmart’s expansion in the world’s second most populous country.

India -- The Indian government on Friday won a non-binding vote in the upper house of parliament on its new policy to allow foreign supermarkets to enter the country's vast retail market, which is put at approximately $450 billion.

The government had already won a vote on retail reform in the lower house two days earlier.

New York -- CVS Caremark is reportedly looking to expand outside of the United States by acquiring Onofre, the eighth-largest pharmacy chain in Brazil, according to published reports.

The Valor Economico newspaper reported that CVS Caremark plans to pay $313 million to acquire an 80% stake in Onofre and will also assume the company's debt.

“We don’t comment on market rumors,” CVS Caremark spokesman Mike DeAngelis told Drug Store News.

Tesco and Walmart’s Asda division are intense competitors in the U.K. and that was supposed to be the case in the U.S. when Tesco arrived in 2007 with its Fresh & Easy format.