Last week, reports emerged from the Flipkart office that an initial agreement of sale to Walmart had been signed. The world’s largest retail chain, Walmart Inc. has now announced that it has agreed to become the largest shareholder in Flipkart Group. The deal is worth approximately US$ 16 billion and will see Walmart own 77% stake in the Indian e-commerce outlet.
Subject to regulatory approval in India, Walmart will pay approximately $16 billion for an initial stake of approximately 77 percent in Flipkart, formally Flipkart Private Limited.
This announcement has also confirmed another rumour started by a previous report. Walmart announced that investors like Tiger [...]
The world’s largest retail chain, Walmart will buy 73% of Flipkart. The deal appears to be imminent as Walmart has prepared to at least US$ 14.6 billion, and as much as US$ 16 billion, in the cash-and-stock buyout of the Indian e-commerce giant. Moreover, Alphabet Inc., the parent company of Google, is said to be ready with a US$ 3 billion investment as well.
According to the report by Factor Daily, one source had valued Flipkart at US$ 20 billion while two other sources said that Walmart had put company’s value at as much as US$ 22 billion. At this price, Walmart will spend more than US$ 16 billion for the acquisition. After meetings went on throughout Thursday, both [...]