Wal-Mart ( WMT) will spend $500 million to acquire a grocery store chain and related credit card operations in Brazil from Ahold ( AHO).

Bompreco, the retain chain, will cost $300 million, while Hipercard, the credit card unit, will cost $200, Wal-Mart said. Bompreco has about 118 outlets in northeastern Brazil, employing more than 20,000 employees.

With the acquisition, Wal-Mart will have 143 stores in Brazil. Wal-Mart was up 78 cents, or 1.3%, to $60.34.

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