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Wal-mart Bought Flipkart For $ 16 Billion, Resigns By Sachin Bansal

by Admin | Posted: May 09, 2018 at 18:41 | Views: 886

Wal-mart Bought Flipkart For $ 16 Billion, Resigns By Sachin Bansal

Walmart, the world's largest company, on the basis of revenues, has bought Indian e-retail giant Flipkart. This deal was decided by both companies at $ 16 billion (1,07200 million). Founder of Flipkart, Sachin Bansal has resigned from his post in the company.

Biggest e-commerce deal

As Walmart said, Walmart has taken a 77 percent stake in Flipkart. This is the biggest deal in India's history of e-commerce. After doing this deal, Walmart will become the largest multinational company working in India.

After the deal in Walmart and Flipkart, Wal-Mart's turnover in India will be approximately $ 10 billion. Significantly, Walmart Global CEO Doug Macmillan had reached India on Tuesday for the deal and on Wednesday the deal has been announced officially.


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