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Wal-Mart Looks At Hong Kong's ParknShop As A Possible Buy

August 7, 2013: 12:00 AM EST
Wal-Mart Stores Inc. is considering a bid for Hutchison Whampoa Ltd.'s ParknShop supermarket company in Hong Kong. Valued at $4 billion, the proposed sale has generated interest from various corporate and private equity buyers, including Aeon Co. Ltd. from Japan, China Resources Enterprise Ltd., and Wesfarmers Ltd. and Woolworths Ltd. from Australia. Wal-Mart, which in 2012 announced plans to open 100 new stores in China over the next three years, is reportedly working with a bank as it studies its options for the Hong Kong-based supermarket business.
Stephen Aldred and Denny Thomas, "Wal-Mart weighs bid for Li's Hong Kong supermarket chain: sources", Reuters, August 07, 2013, © Thomson Reuters
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