Wal-Mart moves into Guatemala

Wal-Mart moves into Guatemala

GUATEMALA CITY (Reuters) - Wal-Mart Stores Inc. (WMT.N: Quote, Profile, Research), the world's largest retailer, is expanding in Central America through a partnership with a Guatemalan supermarket operator, sources close to the local company said on Monday.

Wal-Mart is buying 33 percent of Central America Retail Holding Corp., which runs two supermarket chains with a total of 250 stores, for an undisclosed amount, the sources said.

Its executives are expected to hold a press conference on Tuesday to announce the deal.

This month Wal-Mart reached a deal to purchase the assets from the Dutch firm Royal Ahold, which has divested Latin American businesses to focus on Europe and the United States, the sources said.

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