Wal-Mart, a U.S. company, bought Asda, a British company, a few years ago. Asda runs large grocery stores similar to what Wal-Mart has in the U.S. Now, Asda (using money from its parent Wal-Mart) is buying the U.K. stores of Netto, a chain of grocery stores majority owned by Dutch shipping container group Maersk. The price is $1.12 billion. The reason? So that Wal-Mart can enter into smaller, more convenient, in-town grocery retailing in the U.K.
Asda to Buy Netto's U.K. Stores - WSJ.com
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