KKR (KKR) announced the signing of definitive agreements to sell Seiyu to Trial Holdings, a distribution and retail business operator in Japan that operates a network of stores in Kyushu. KKR first acquired a 65% majority stake in Seiyu from Walmart (WMT) in 2021, before acquiring an additional 20% stake from Rakuten in 2023, taking KKR’s shareholding to 85%. As part of the transaction, Walmart will also sell its 15% stake to Trial. KKR made its investments in Seiyu from its Asian Fund IV. The transaction is expected to close in the second quarter of 2025, subject to regulatory and customary closing conditions.
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