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Walmart and Flipkart are in talks with additional potential investors to raise $ 2 billion to help accelerate business growth in India, one of the fastest growing retail markets in the world, said a spokesman for Walmart. ", Said Rajneesh Kumar, head of corporate affairs at Walmart India, during a telephone and email interview with Flipkart to attract the attention of a group of committed shareholders. in the long-term success of the company in India.
"We are pleased to have the opportunity to work for Tencent, Tiger Global, Microsoft and co-founder Binny Bansal."
Walmart agreed in May to acquire 77% stake in Flipkart for $ 16 billion. Amazon. Of the $ 16 billion, $ 14 billion was reserved for the purchase of shares from existing shareholders. Walmart's investment also includes $ 2 billion of equity financing and secondary investments
. Kumar did not disclose the name of the new investors with whom discussions were underway
More Investors Will Join
"Walmart and Flipkart are also in discussion with other investors Potential investors could join the round, which could result in Walmart's investment participation moving slightly lower once the deal is completed.Although Walmart will retain a clear majority stake. this calendar year, subject to regulatory approval. "
The agreement went under the scanner of the Indian authorities, who asked for details of the purchase agreement of ################################################################################## 39 actions to badess the extent of tax liability. take seriously our legal obligations, including the payment of taxes to the governments where we operate. We will continue to work with the Indian tax authorities to respond to their demands, "said Kumar.
Indian traders have protested the deal that they believe will create a monopoly on the retail market and driving the small Walpart has been good for India over the past ten years.We continue to support domestic manufacturing in India by sourcing locally from suppliers of SMEs, small farmers and farmers. 95% of women's merchandise-owned businesses Best Price
"India is also one of the important countries. "We firmly believe that our partnership with Flipkart will continue this success, leading to the creation of lakhs, more new jobs as we build supply chains and develop suppliers in the local retail ecosystem." India In the end, we will help thousands of local suppliers and manufacturers access consumers through the market model, thus bringing benefits to the Indian economy, "said Mr. Kumar
and local manufacturing in India, the company would be happy to facilitate partnerships with financial institutions for these supplier partners. "
India is expected to become one of the world's top five global markets. e-commerce by 2022, in front of countries like the South. Korea, Germany and France.
"It's the right time to make this investment in India, given the changing landscape in the country," said Mr. Kumar
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