BangBang57 wrote:
Pali is not a Costa Rica company. It was founded in Nicaragua and solely owned by Danuel Ortega's brother till Walmart bought 51%. He still owns 49%.
Walmart Mexico now owns 100% of the company.
Quote:
Wal-Mart Mexico Acquires Wal-Mart Central America
Topics::
Wal Mart Central America, Wal-Mart, Walmex, fusion, retail, Mergers & Acquisitions,
Source: americaeconomia.com
Monday, December 7, 2009
For this transaction, Walmex will pay $110 million in cash and issue stock for $593 million.
Wal-Mart Central America is owned by Wal-Mart Stores Inc. (51%) and minority shareholders (49%). It operates 519 stores, 11 distribution centers, and agri-industrial operations in 5 countries (Guatemala, El Salvador, Honduras, Nicaragua and Costa Rica).
Wal-Mart Mexico (Walmex), "... will make subsequent cash and stock payments. It proposes issuing 55 million shares, to be distributed to the current shareholders of the Central American company if certain profitability levels are met".
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