What: Walmart to part with its 92 stores across Argentina.

Why it is important: The company’s international portfolio reset continues.

Continuing plans to recast its international holdings around markets with high growth potential, Walmart has agreed to sell its Argentina business to Grupo de Narvaez, a Latin America retail investor which has retail operations in Argentina, Ecuador and Uruguay.

Earlier this year, Walmart reached an agreement to sell a majority stake in its ASDA chain in the U.K., and did the same in Brazil in 2018. Analysts believe it may also be looking for a buyer for divisions in Chile and Africa.

Walmart Argentina started operating in the country in 1995 with the opening of its first store in the province of Buenos Aires. Currently, the company is the ninth largest private employer in the country, with more than 9 000 employees in 92 stores, distributed in 21 provinces.

Grupo de Narváez Acquires Full Ownership of Walmart Argentina