Puerto Rico, Wal-Mart tussle over buy

Puerto Rico's government will attempt to block Wal-Mart's acquisition of a local supermarket chain, saying it violates the island's antitrust laws.

The government will take court action to invalidate the retail giant's purchase of Supermercado Amigo's 35 supermarkets, which employ 4,500 workers, Justice Secretary Anabelle Rodriguez told the Associated Press.

Rodriguez said the transaction was contrary to the best interests of Puerto Rico's consumers, business owners and distributors.

"(The transaction) violates the law and is no good for Puerto Rico," she said.

Rodriguez's comments were "disappointing," said Wal-Mart Puerto Rico Inc. spokesman Federico Gonzalez Denton.

The Federal Trade Commission issued a consent decree last week validating the February acquisition and allowing Wal-Mart to close the purchase, which it did Thursday, Denton said.

"We believe all legitimate antitrust concerns related to the purchase of Supermercado Amigo were addressed by the consent decree issued by the Federal Trade Commission," he said.

The acquisition was reportedly worth $225 million.

Wal-Mart Stores Inc., based in Bentonville, Ark., operates 19 stores in Puerto Rico, including eight Sam's Clubs. With the Amigo acquisition, Wal-Mart will employ about 10,000 people in the U.S. territory, company officials said.

Founded in 1966, the Amigo supermarkets will continue operating under the Amigo brand name.