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Wal-Mart expanding into Central America

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Published: Sept. 20, 2005 at 2:08 PM
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BENTONVILLE, Ark., Sept. 20 (UPI) -- Wal-Mart Stores Inc. said Tuesday it bought a stake in a Central American chain of retail stores.

The world's biggest retailer paid an undisclosed amount to Dutch retailer Royal Ahold for a 33.3-percent interest in Central American Retail Holding Co., MarketWatch reported Tuesday.

In coming months, Wal-Mart intends to increase its stake in the company, It has 363 supermarkets and other stores in Guatemala, El Salvador, Honduras, Nicaragua and Costa Rica, with 23,000 employees.

© 2005 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.

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