A huge deal between Flipkart-Walmart
Walmart, the world’s largest retailer, bought the majority of our flagship e-commerce company Flipkart in our country. The agreement between Walmart and Flipkart was one of the largest M & A contracts in our country.
Walmart announced on Wednesday that it had acquired 77 per cent stake in Flipkart to Rs.1.07 lakh crore. The remaining flipkart business is managed by current shareholders, including company co-founder Binny Bansal.
Woumart President and CEO Doug Macmillan said India is one of the most attractive retail markets in the world. Its size and growth rate, he said, is likely to be partnered with the company that leads the transformation in the market.
Binny Bansal, co-founder and co-founder of Flipkart said, “This investment is important for India. It will contribute to their desire to make a more affordable affiliation with buyers and sellers. He said that it would be possible to create next venture in the retail sector in India.