International Business

Santiago, Chile -- A report by Santiago newspaper Estrategia said that Wal-Mart Stores is considering opening banks in Chile and Argentina.

The report, circulated by Bloomberg, said that Wal-Mart completed a study into banking services in Argentina. In Chile, Wal-Mart operates the Presto credit card, which it acquired in the takeover of supermarket chain Distribucion y Servicio D&S SA in 2009.

By George F. Brown, Jr., [email protected]

The increased pace of merger and acquisition activity late in 2010, including some huge deals, suggests that 2011 will be an active year. Low interest rates, significant cash on many firms’ balance sheets, and stock prices that are low enough to attract buyers but high enough to move sellers off the sidelines all reinforce that possibility.

AMSTERDAM — Former Ahold senior executive Albert Heijn, who helped lead the overhaul of the Dutch-based supermarket giant in the 1960s and 1970s, died peacefully last week at his home in the United Kingdom, the company announced. He was 83.

New York City -- The shareholders of South African Massmart chain have overwhelmingly accepted Wal-Mart's offer to buy 51% of their company, the chief executive said Monday, paving the way for Wal-Mart to enter Africa.

Massmart said the proposal was approved by 97% of shareholders who voted Monday -- 75% approval had been needed. Wal-Mart offered 148 rand (about $20) per share in a 17 billion rand (about $2 billion) deal.

The deal will have to be approved by South Africa's anti-monopoly regulators.

Dow Jones this morning reported that South African retailer and Walmart takeover target Massmart Holdings has given assurances it will continue to honor all agreements with labor unions and local labor laws if the buyout goes through. That’s what Walmart and Massmart have been saying since the deal was announced last year but they have to keep saying it because union activists are everywhere in the world.

MINNEAPOLIS  —Target announced that its chief marketing officer, Michael Francis, will serve as the executive committee sponsor of Target’s entrance into the Canadian market.  In this role, Francis will oversee the extension of Target’s brand as part of the corporation’s first-ever expansion of its stores beyond the United States, the company reported. 

Los Angeles -- BH Properties announced that Ronald J. Platisha has been promoted to the newly created position of COO.

Platisha will lead the organizational operations while building and maintaining relationships with financial institutions.

Platisha, a 30-year veteran in the commercial real estate industry, has served as CFO at BH Properties for the past four years.

New York City -- Starbucks Coffee Co. said Thursday that it signed a memorandum of understanding with Tata Coffee Ltd., an Indian coffee bean provider, which will allow Starbucks to source and roast coffee beans at Tata's Coorg, India facility.

In addition, the deal will allow the companies to "explore the development of Starbucks retail stores in associated retail outlets and hotels," Starbucks said in a statement.

MINNEAPOLIS - Just days after announcing 2011 U.S. expansion plans, Target announced an acquisition in Canada that will enable it to open between 100 and 150 stores during the next four years. The company announced that it has agreed to pay C$1.825 billion to purchase from Zellers Inc., a subsidiary of the Hudson's Bay Company, the leasehold interests in up to 220 sites currently operated by Zellers Inc. This transaction will allow Target to open its first Target stores in Canada beginning in 2013. 

NEW YORK - The retail industry descended upon the Javitz Center in New York City this week for the National Retail Federation’s 100th Big Show, and despite the tough economy, the general mood of the show was one of optimism and excitement. 

Addressing the packed auditorium before Monday’s super sessions, NRF president and CEO Matt Shay said. “There are very few organizations that enjoy the stature of retail, very few businesses that contribute more to the local economy.”