The wait for Walmart–Flipkart deal would end today. The Walmart-Flipkart deal would be one of the largest M&A deals in India, US-based world's largest retailer Walmart Inc is likely to announce its deal to buy a majority stake in Flipkart on Wednesday. According to various media report, India Walmart chief executive Doug McMillon have arrived in Bengaluru and announced the deal officially at a town hall meeting.
The said deal with Flipkart would make Walmart directly take on Amazon in Indian e-retail space.
Below we have listed 10 major developments related to the deal which you should know about:
1. US retail giant Walmart in a $12 billion acquisition of India's biggest e-commerce firm Flipkart is expected to see buy 72-73 per cent stake. Bloomberg reported that board of Flipkart Online Services has approved an agreement to sell about 75 per cent of the company to a Walmart-led group for about$ 15 billion.
2. Walmart is likely to buy stakes of multiple Flipkart investors, including that of Tiger Global Management and Softbank to end up with a significant majority holding, sources said. Tiger Global and Masayoshi Son-led Softbank hold about 20 per cent stake each in the Singapore holding company of Flipkart. Walmart will buy the stake in the Singapore holding company, Flipkart Pvt Ltd, that, in turn, holds majority shares in the multiple companies that run various businesses...