CORRECTED - UPDATE 1-Walmex to buy Wal-Mart in Central America

(Corrects to "all" from "minority" investors in 2nd paragraph) (Updates with details)

MEXICO CITY Dec 6 (Reuters) - Mexico's top retailer Wal-Mart de Mexico, or Walmex (WALMEXV.MX), said on Sunday it had signed a deal to buy Walmart Centroamerica, the local division of Wal-Mart Stores Inc (WMT.N).

Walmex said in a statement it would pay 1.4 billion pesos ($110 million) in cash and would issue around 593 million new shares to compensate all investors in the Central America retail chain who agreed to be paid in shares.

Walmart Centroamerica is the main supermarket chain in Guatemala, El Salvador, Honduras, Nicaragua and Costa Rica, with 519 million stores.

Wal-Mart Stores Inc already owns 51 percent of Walmart Centroamerica, with the remainder in the hands of local investors and the deal gives it control in Central America as the U.S. company also has a majority share of Walmex. (Reporting by Tomas Sarmiento and Cyntia Barrera Diaz, editing by Gerald E. McCormick)