And as per earlier reports, the Japanese internet and investment conglomerate will get an exit of $4 billion for its $2.5 billion investment in Flipkart eight months ago.
Some of Flipkart's main investors - U.S. hedge fund Tiger Global Management, South African tech investor Naspers and venture capital firm Accel - are likely to retain small stakes, the report said.
Unconfirmed reports have started trickling in, indicating that the mega-deal of Indian e-commerce has been finalized.
As per some reports, Walmart may spend somewhere between $8 billion and $12 billion to buy a majority stake in Flipkart.
"The company's valuation is estimated to be $18 billion, which is based on the buyback price paid to investors, including premium", added the analyst. Besides, Google parent Alphabet is also likely to participate in the deal.
Flipkart ( India's Largest E-commerce company ) board has approved to sell 75% of the stack to Walmart in a $15 billion deal as per reported by Bloomberg, citing unnamed sources. Negotiations are still ongoing and there is no deadline per se, they said, although Flipkart itself seems to continue favouring the deal with Walmart: joining forces with the predominantly brick-and-mortar American retailer would help the company put into practice its plans for a new physical chain in India. These early investors in Flipkart were of the view that combining the Indian e-tailer with Amazon would face hurdles with the Competition Control of India.
Meanwhile, a TOI report today said Walmart is insistent on keeping on board only one co-founder of Flipkart.
It's now unclear if Flipkart favors one offer over the other, but it's possible that it has a preference between competing for the lead in the market alongside Walmart, and immediately becoming the dominant e-tailer in India in conjunction with Amazon. As per the regulatory filings, Flipkart Ltd purchases shares for $350 Million from its investors and also initiated the process of converting Flipkart into a Pvt Ltd company.
According to reports that came a few days back, Amazon.com Inc made a formal offer to buy 60 percent of Flipkart, thus complicating Walmart Inc's bid for majority ownership of the Indian online retailer.
Cardinal Pell, who turns 77 next month, was Archbishop of Melbourne from 1996-2001, when he was appointed Archbishop of Sydney. The 76-year-old Vatican finance chief will be the highest-ranking Catholic official to stand trial for sexual abuse charges.
The Bears made some big additions at wide receiver with Allen Robinson and Taylor Gabriel , but Miller adds another element. The question now is can it catch up in time for this current regime to get to celebrate it? "It's all paying off for me".
If you speak English, live in the United Kingdom , and own an Alexa-powered device, you can ask it to Open Pac-Man Stories. To kick off today's launch of general availability, Amazon is announcing a handful of others who will do the same .
However, the filing document does not clearly mention how much the company wishes to raise in this public listing process. Just days ago, officials at Hong Kong's stock exchange had loosened its rules to land some big tech stock offerings.
Marathon Petroleum's corporate predecessor, Marathon Oil, co-owned or owned the refinery and SuperAmerica from 1997 to 2010. Masco Corporation (NYSE:MAS)'s Williams Percent Range, or 14-day Williams %R, is sitting at 62.62 at the time of writing.
Twitter has no chill after LeBron destroys Raptors in Game 2
James put on a withering shooting display in the quarter - netting 15 points in the period, going 7-for-10 from the floor. After my first year in Miami, I tried to work on my post game and ways I can score in the post - just be very efficient.
Red Sox are finally digging the long ball again
Duffy is 0-4 with a 6.75 ERA in six games lifetime against the Red Sox, but is 0-3 with a 7.97 ERA in four games at Fenway. Among the many things that have gone right for Boston this season, the Red Sox defense has been near the top of the list.
Musk's Tesla Tantrum Costs Him $300 Million
The cash burn could put pressure on the company to borrow more or sell additional shares to raise more cash. The proposal came ahead of the company's annual meeting that is scheduled for June 5.