Business Standard

Monday, December 23, 2024 | 11:34 AM ISTEN Hindi

Notification Icon
userprofile IconSearch

Walmart acquires 77% stake in India's Flipkart for $16 bn: Key takeaways

Flipkart co-founder Sachin Bansal to exit company by selling his 5.5 pc stake to Walmart; Binny Bansal to stay

Flipkart
Premium

The logo of Flipkart is seen on the facade of the company's headquarters in Bengaluru

Matthew Boyle & Saritha Rai | Bloomberg
Walmart Inc agreed to buy a controlling stake in India’s biggest online retailer, striking a blow against rival Amazon.com Inc. as the battle for e-commerce supremacy goes global.

The world’s largest retailer will acquire a 77 percent holding in Flipkart Group for $16 billion, the companies said in a statement. Flipkart co-founder Binny Bansal and other shareholders will hold the remainder.

Key takeaways:

Japan's Softbank to exit Flipkart by selling entire 20 per cent stake to Walmart.

Flipkart co-founder Sachin Bansal to exit company by selling his 5.5 pc stake to Walmart; Binny Bansal to stay. 

Walmart says it

What you get on BS Premium?

  • Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
  • Pick your 5 favourite companies, get a daily email with all news updates on them.
  • Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
  • Preferential invites to Business Standard events.
  • Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in