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Wal-Mart in deal with Liverpool


Wal-Mart Stores’ Mexican unit is shedding its apparel store chain.

Wal-Mart de Mexico SAB (Walmex) is selling its Suburbia chain to El Puerto de Liverpool SAB, one of the largest department store operators in Mexico, in a deal valued at 19 billion pesos ($1.03 billion), Bloomberg reported.

The deal lets Walmex concentrate on its core operations.

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