KKR takes out Rakuten's stake in Japanese retailer Seiyu
KKR has increased its stake in Japanese supermarket operator Seiyu to 85%, having taken out a position held by local e-commerce giant Rakuten, which supported the private equity firm’s carve-out in 2020.
The original deal, which valued Seiyu at JPY 172.5bn (then USD 1.6bn), saw KKR acquire 65% and Rakuten take 20%. Walmart, the original owner, retained 15%. They planned to reposition the company as an...
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