WalMart pays $334 million to close India partnership

Mumbai, April 28:

Stores Inc, which is one of the biggest best price retail enterprises, has paid a whopping $234 million in

for the purchase of a stake in its Indian venture with Bharti Enterprises, which the US retailer ended in October last year, as per a 2014 report.

WalMart had earlier paid $100 million to take over its partner's 50% stake in Bharti Walmart Pvt Ltd, which functions 20 wholesale stores under the Best Price Modern Wholesale brand.

However, the transaction resulted in a net loss of about $151 million, as per the company's consolidated statement of income.

OneIndia News