ExitRecord

Acquisition

Flipkart and Walmart: the deal on record

Walmart agreed in May 2018 to pay approximately USD 16 billion for an initial stake of about 77 percent in the Indian e-commerce company Flipkart, including USD 2 billion of new equity funding. Closing was subject to regulatory approval in India. Walmart completed the purchase in August 2018 for cash consideration of approximately USD 16 billion, according to its quarterly filing.1,2

Value as reportedapproximately USD 16 billion for an initial stake of approximately 77 percent, including USD 2 billion of new equity funding1
Announced9 May 2018
CompletedAugust 2018
SectorE-commerce

Timeline

  1. Walmart announces an agreement to invest in Flipkart, subject to regulatory approval in India.1
  2. Walmart acquires approximately 77 percent of the diluted shares of Flipkart Private Limited.2

Status now

Majority owned by Walmart.2

Sources

  1. Walmart Inc. via SEC EDGAR, Walmart to Invest in Flipkart Group, India's Innovative eCommerce Company (Exhibit 99.1 to Form 8-K) (9 May 2018)
  2. US Securities and Exchange Commission (EDGAR), Walmart Inc. Form 10-Q for the quarter ended 31 October 2018 (30 November 2018)