Walmart to pay $16b for majority stake in India's Flipkart
Walmart has agreed to pay $16 billion for a 77% stake in Flipkart, an Indian e-commerce business that has received substantial private funding. The deal will facilitate full exits for several investors, including SoftBank’s Vision Fund.
The transaction will include $2 billion in new equity to support Flipkart’s growth, but the majority will be in secondary shares. Naspers said it would sell its entire 11.18% interest to Walmart for...
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