Walmart Deals With Flipkart For $15 Billion
Flipkart agreement to sell about 75% to the company approx 1 lakh crore (roughly $15 billion), according to American retailer Walmart enormous Flipkart on international expansion.
- Flipkart has approved an agreement to sell about 75 percent of the company
- SoftBank will sell all of the 20-plus percent stakes it holds
- The alphabet is likely to participate in the investment with Walmart
One of the biggest Acquisitions in INDIA
Walmart INC acquired by Flipkart soon. due to the matter of as now, the Flipkart founder and executive chairman was Bengaluru based company.
Softbank group corp under the proposed deal.flipkart investment at a valuation of roughly $20 billion roughly (Rs 1.33 lakh crores)
Google-parent is likely in the investment with Walmart, say of the one people. 10days within excepted final close.
Softbank will sell its 20-plus stake holds in Flipkart.
some people ongoing negotiations say that Walmart looking co-founders binny basal and Sachin Bansal and CEO Kalyan Krishnamurthy in roles after the acquisition goes through.now reports suggest Sachin will be leaving once the deal goes through.Binny and Krishnamurthy have backed the deal with Walmart, which will likely result in share purchase agreement by Walmart early next week.
Amazon has been gaining ground quickly on Flipkart and it tried to derail the Walmart transaction at least in part because it will fortify the Indian rival.Walmart aid Flipkart with deep pockets skills from logistics to marketing.the USA retailer working to win over the INDIA company since at least last year.
last month, Walmart agreed to cede control of its UK grocery chain, Asda, as part of a global strategy to prioritize faster-growing markets more mature ones.WALMART is merging Asda with the British retailer J Sainsbury and will 42%stake in the combined company
part of the Walmart deal, Flipkart’s existing shareholders Tencent holdings, South Africa’s Naspers and Microsoft Corp.are expected to retain small stakes.