The U.S retail giant Walmart is taking quite some time to close the deal with Flipkart. Walmart is going to acquire a 77% stake in India’s largest online retailer Flipkart, while it has given itself time till June 7, 2019, to close the deal. However, if the deal fails it will have to repay a significant proportion of the Bond issue. A deadline has been set in the share purchase agreement for March 9, 2019, failing which the termination rights will be negotiated. To finance its investment in Flipkart, the retail giant started the process of selling $16 million worth of bonds.
Source: ET Rise