The shareholders of Wal-Mart de Mexico have approved the proposed acquisition of Walmart Centroamerica from Wal-Mart Stores, Inc. (NYSE: WMT) in a cash and stock transaction.
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According to the terms of the transaction, WALMEX intends to issue up to 648 million new shares to its parent company Wal-Mart Stores, Inc. and regional investors for the acquisition.
Under the terms of the agreement, WALMEX will make cash payments of approximately $110.69 million and issues 593 million new shares to the shareholders of Walmart Centroamerica, which is based in Guatemala, as purchase consideration.
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