BENTONVILLE, Ark. — Wal-Mart has acquired the remaining stake it did not own in Chinese e-retailer Yihaodian for undisclosed terms. The move comes after the People’s Republic loosened restrictions on foreign ownership, allowing the U.S. retail giant to surpass its 51% investment in the business. The remaining shares were acquired from Chinese holding company Ping An Insurance. Wal-Mart is looking to keep up with the rapidly growing e-retail market in China, but Yihaodian currently lags at sixth place in online market share in China, according to researchers at Euromarket International.
Wal-Mart buys up remaining Chinese stake
Most Recent
Most Read
Home Hardware names new board chair
Thu, May 08th, 2025
Canadian Tire reports strong first quarter
Thu, May 08th, 2025
Throwback Thursday: 25 years ago, Kent announced sixth big box
Thu, May 08th, 2025
Hardware and LBM sales tumble in February
Thu, May 08th, 2025
Turkstra Lumber earns status as one of Canada's Best Managed
Wed, May 07th, 2025
Jeld-Wen to close facility
Wed, May 07th, 2025
Industry panel dissects the Buy Canadian movement
Wed, May 07th, 2025
Featured Classified: Castle
Tue, May 06th, 2025
Jeld-Wen reports first quarter earnings
Tue, May 06th, 2025
Recession fears put home buying on hold
Tue, May 06th, 2025