 "Wal-Mart lost $151 mn to end its deal with Bharti Enterprises")
Mumbai: Wal-Mart Stores Inc paid about $234 million in debt related to the purchase of a stake in its Indian joint venture with Bharti Enterprises, which the US retailer ended in October last year, according to its 2014 annual report.
[caption id=“attachment_73586” align=“alignleft” width=“380”]  AFP[/caption]
Wal-Mart, the world’s largest retailer, had earlier paid $100 million to take over its Indian partner’s 50 percent stake in Bharti Wal-Mart Pvt Ltd, which runs 20 wholesale stores under the Best Price Modern Wholesale brand.
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The transaction resulted in a net loss of about $151 million, according to the company’s consolidated statement of income.
Reuters
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