UPDATE 1-Walmart Japan's new CEO: Seiyu "absolutely" not for sale [Reuters]
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Source: Reuters
UPDATE 1-Walmart Japan's new CEO: Seiyu "absolutely" not for sale (Adds background on Seiyu and Walmart, Desclee) TOKYO, March 18 (Reuters) - The newly appointed chief executive of Walmart Inc’s Japanese supermarket chain Seiyu on Monday denied the business was up for sale, following reports last year that the U.S. retail giant was looking for a buyer. “I’m not here to sell a business,” Lionel Desclee told reporters in Tokyo in his first public remarks since his appointment on Friday. “Absolutely not at all.” Japanese media reported last year that Walmart considered selling Seiyu, and that a sale could amount to around 300 billion to 500 billion yen ($2.69 billion to $4.48 billion). Desclee, who has worked for European food retailer Delhaize Group and was previously CEO of pet shop chain Tom & Co, said he was too new in the job to discuss strategy but was sure that a sale was not in the works. He joked of “sleepless nights” as he read media reports of a possible sale just as he was c
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