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Walmart reportedly selling Japanese supermarket chain

Walmart may be pulling out of the Japanese grocery market.

The United States-based discount giant has decided to sell Japanese supermarket chain Seiyu, and has already approached major retailers and private equity funds, according to Reuters, which cited Nikkei Asian Review.

If the sale goes through, it could total between $2.7 billion and $4.5 billion U.S. dollars, according to Nikkei.

In the report, Walmart said it does not comment on market speculation.

The potential deal comes on the heels of Walmart selling an 80% stake in its underperforming Brazilian operations to private equity firm Advent International in June. This was the discount giant’s third major international deal since April.

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