Walmart buys Tiger Global’s stake in Flipkart for $1.4 billion

Walmart buys Tiger Global's stake in Flipkart for $1.4 billion

Walmart buys Tiger Global’s stake in Flipkart for $1.4 billion

the largest U.S. retailer, recently paid $1.4 billion for the fund’s stake in Flipkart, according to a letter to investors from hedge fund giant Tiger Global, further cementing its stake in the firm. Control of the Indian e-commerce giant.

The deal, which took place in recent days, values ​​Flipkart at around $35 billion, down from the $38 billion it was slated for in 2021.

In 2018, Walmart paid $16 billion for a 77% stake in Flipkart, and the company has been accelerating its foray into India’s online retail industry in recent months.

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