Walmart Divests Its Brazilian Operations As It Continues To Reshape Global Ambitions

Walmart announced that it is selling 80% of the Brazilian operations to Advent International, a private equity investor with extensive holdings in Brazil. When completed, Walmart will retain a 20% stake in the company. Walmart expects to record a non-cash, net loss of approximately $4.5 billion as a discrete item in the second quarter, a significant portion that they attribute to the recognition of cumulative currency fluctuation losses. In a few dramatic weeks, Walmart has reshaped its international operations. It began with the sale of Asda for nearly $10 billion to Sainsbury, which follows a similar deal structure where 20% of the combined business is being retained. Walmart then made a huge move in India with the $16 billion acquisition of 77% of Flipkart. And now, Brazil. Read more at Forbes.