Wal-Mart Eyes New International Acquisitions

The most attractive markets the giant retailer is eying are South Africa, China, Argentina, Chile and Mexico.

Wal-Mart, the world's largest retailer, said on Oct. 13 that it is looking for new international acquisitions in an effort to boost growth as the U.S. market remains sluggish.

"The international division is a growth engine for the company and will continue to be one," Wal-Mart international chief Doug McMillon said in a briefing with analysts.

"We want thoughtful acquisitions that deliver value over time."

The most attractive markets the giant retailer is eying are South Africa, China, Argentina, Chile and Mexico, he said.

Wal-Mart in September said it would buy South African retailer Massmart for about $4.25 billion. McMillon said the two companies share a "real good cultural fit."

Wal-Mart's international sales reached $100 billion last year in more than 4,000 stores worldwide.

Copyright Agence France-Presse, 2010

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