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BENTONVILLE, Ark. - Wal-Mart Stores, Inc. has reportedly agreed to buy a Chinese supercenter chain for about $1 billion. If the deal goes through, it would leave Wal-Mart with the biggest food and department store network in China.
Wal-Mart is looking to buy 100 Chinese supercenters owned by Trust-Mart, a closely held Taiwanese company, according to the Wall Street Journal, which cited unnamed people familiar with the deal.
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The agreement, which would have to be approved by Chinese regulators, would place Wal-Mart ahead of Carrefour SA in terms of the most supercenters in China.
Wal-Mart currently has about 60 stores in China.