BackWal-Mart paid $334 million to end India partnership
The transaction resulted in a net loss of about $151 million, according to the company's statement of income
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Mumbai: Wal-Mart Stores Inc. paid about $234 million (around ₹ 1,430 crore) in debt related to the purchase of a stake in its Indian joint venture with Bharti Enterprises Ltd, which the US retailer ended in October last year, according to its 2014 annual report.
Wal-Mart, the world’s largest retailer, had earlier paid $100 million to take over its Indian partner’s 50% stake in Bharti Wal-Mart Pvt. Ltd, which runs 20 wholesale stores under the Best Price Modern Wholesale brand.
The transaction resulted in a net loss of about $151 million, according to the company’s consolidated statement of income. Reuters
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