Wal-Mart de Mexico completes central America acquisition

    Wal-Mart de Mexico completes central America acquisition

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    Retailer Wal-Mart de Mexico (WMMVY) completed the acquisition Monday of Wal-Mart Centroamerica from its parent company Inc. (WMT) and regional investors.

    Walmex, as the unit of Wal-Mart is known, said it issued 604 million shares and paid 1.42 billion pesos in cash to shareholders to complete the mostly stock transaction.

    Some regional Wal-Mart Centroamerica investors opted for the cash payment. The deal, announced in December, adds 519 stores to Walmex's existing 1,477, and gives it operations in Guatemala, El Salvador, Honduras, Nicaragua and Costa Rica.

    Walmex V shares closed Monday at MXN58.70, valuing the acquisition at about $2.8 billion.

    Source: The Wall Street Journal