Wal-Mart and Bharti Enterprises announce end of their
India joint venture
NEW DELHI: Ending speculations over future of their
partnership, Bharti Enterprises and Wal-Mart Stores, Inc. said on Wednesday they are
going separate ways for operations in the Indian retail sector.
Subsequently, the US retail major will buy out the Indian partner from their 50:50 wholesale cash and carry joint venture — Bharti Walmart, for an undisclosed sum.
In a joint statement, the companies said they have reached an agreement to independently own and operate separate business formats in India and discontinue their franchise agreement in the retail business.
Subsequently, the US retail major will buy out the Indian partner from their 50:50 wholesale cash and carry joint venture — Bharti Walmart, for an undisclosed sum.
In a joint statement, the companies said they have reached an agreement to independently own and operate separate business formats in India and discontinue their franchise agreement in the retail business.
MD NAUSHAD ALAM
PGDM 1 SEM.
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