Walmart Explores Vips Sale

Walmart de Mexico is exploring the sale of its Vips restaurant division, it says. It notes that the early-stage process will not necessarily result in a sale. People familiar with the process say it has been approached by interested parties and retained Morgan Stanley this year to advise it as it considers its options. So far, interest is heard to have been from strategic players, but the retailer’s restaurant operations could also see private equity interest following the announcement. The first Vips was created in 1964 to serve visitors to the retail chain’s stores.