Walmart is close to $12B+ deal for Flipkart
Walmart is close to $12B+ deal for Flipkart. Walmart is close to finalizing a deal to buy a majority stake in India’s leading e-commerce company for at least $12B and may complete the agreement in the next 2 weeks, according to people familiar with the matter. All the major investors in Flipkart Online Services Pvt are now on board with the Walmart purchase,
after an earlier debate over an Amazon acquisition, said the people, asking not to be named because the matter is private. Tiger Global Management will sell nearly all its 20% stake in Flipkart, while SoftBank will offload a substantial part of its 20%+ holding, the people said. Walmart will likely end up with 60% to 80% of Flipkart, valued at about $20B, they said. Read. more here.