Walmart buys out $1.4 billion Tiger Global stake in Flipkart: WSJ
Walmart has paid $1.4 billion to buy out hedge fund Tiger Global's investment in its Indian e-commerce firm Flipkart and acquired private equity firm Accel's remaining 1% stake in the company as well, media reports said on Monday. The Wall Street Journal said Walmart bought the shares from Tiger Global recently, valuing the Indian company at about $35 billion.
This is down from a near-$38 billion valuation which Flipkart had attained in 2021. The U.S.
retailer bought a 77% stake in Flipkart for about $16 billion in 2018. Accel's stake sale in Flipkart was reported by the Economic Times newspaper.
The report did not say how much Walmart paid for the stake. A Walmart spokesperson told Reuters on Monday that the company bought additional shares of Flipkart from some investors, including Tiger Global, but did not share any other details.
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