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Issue #587

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Project Cargo / Heavy Lift Bi-Annial

South Carolina Ports

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2014 Media Kit
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Wal-Mart paid $334 million to end India partnership

By: | at 04:01 PM | Channel(s): International Trade  

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 U.S. retailer ended in October last year, according to its 2014 annual report.

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.

The transaction resulted in a net loss of about $151 million, according to the company’s consolidated statement of income. (Reuters)