Wal-Mart agrees to buy Chinese chain: WSJ - Yahoo! News

Wal-Mart agrees to buy Chinese chain: WSJ - Yahoo! News:

Wal-Mart Stores Inc. (NYSE:WMT - news) has agreed to acquire a Chinese supercenter chain for about $1 billion in a move that would give the world's largest retailer the biggest food and department store network in China, the Wall Street Journal reported on Monday.

The deal is for the 100 Chinese supercenters owned by Trust-Mart, a closely held Taiwanese company, the Wall Street Journal reported in its online edition, citing unnamed people familiar with the deal.