The FINANCIAL — Walmart Inc. (“Walmart”) has agreed to sell its business in Argentina to Grupo de Narváez, a Latin American group. The new ownership, which has retail operations in Argentina, Ecuador and Uruguay, brings strong local expertise that will position the business to thrive. The deal marks an exciting new chapter in the business’ 25-year history. Walmart will continue to support the business through transition services and sourcing agreements under the new ownership, however, it will not retain an equity stake. Walmart Argentina has demonstrated both incredible resilience and exciting innovation throughout the COVID-19 pandemic, significantly expanding its omnichannel…
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