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Wal-Mart (WMT Quote) agreed to sell its German business to German retailer Metro.
The Bentonville, Ark., retail giant will take a $1 billion pretax loss on the sale, whose terms weren't disclosed.
Wal-Mart Germany operates 85 Supercenters employing 11,000 associates. Wal-Mart entered the German market eight years ago with the acquisition of the Wertkauf and Interspar hypermarket chains. The transaction is subject to approval by antitrust authorities. ...
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