Walmart Inc on Wednesday announced it was paying $16 billion for a roughly 77 percent stake in Indian online marketplace Flipkart, the U.S. retailer`s biggest deal as it battles rival Amazon.com Inc in a burgeoning e-commerce market.
The deal is also Walmart`s biggest bet in foreign markets, where it has historically struggled. The retailer`s previous biggest acquisition, Asda - which it bought in 1999, was sold last month to Sainsbury`s.
Deals and investments made by Walmart in the past two decades:
** Walmart bought UK grocery chain Asda Group PLC in 1999 for 6.7 billion pounds, which was the retailer`s biggest acquisition up until the Flipkart deal. Last month, Sainsbury`s bought Asda for around 7.3 billion pounds, after Walmart struggled with the business over the past five years.
** Walmart sold its German retail business to Metro AG in 2006, taking a loss of $1 billion. The terms of the agreement were not disclosed.
** In 2006, Walmart sold its South Korean retail business to Shinsegae Co for 825 won billion($882 million).
** Walmart spent up to 100 billion yen ($878 million) to buy out minority shareholders in Japanese supermarket unit Seiyu Ltd in 2007.
** In 2012, Walmart got the go ahead from a South African court for its $2.4 billion acquisition of retailer Massmart.
** In 2015, a unit of conglomerate China Resources Corp plans to sell minority stakes it holds in 21 Wal-Mart Stores Inc outlets around China for $525 million.
** In June 2016, Walmart sold its Chinese online grocery store, Yihaodian, in return for a stake in the country`s no. 2 e-commerce firm JD.com Inc.
** Walmart paid $3.3 billion for internet retailer Jet.com and its innovative pricing software in the August of 2016.
** Walmart in January 2017, announced that it was buying online shoe seller Shoebuy.com from Barry Diller`s IAC/InterActiveCorp IAC for $70 million.
** Walmart bought online outdoor retailer Moosejaw in February 2017 for about $51 million in cash giving the U.S. retailer a slew of popular brands including Patagonia and North Face.
** In March 2017, Walmart bought women`s vintage-inspired retailer Modcloth.com. The value of the transaction was not disclosed.
** In June of 2017, Walmart said it would buy online men`s fashion retailer Bonobos Inc for $310 million.