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Walmart in talks for up to 25B investment in Tata app – report


Walmart (NYSE:WMT) is in talks with Tata Group for a potential  $20B-$25B investment in the Indian company’s upcoming super-app business, Indian newspaper Mint reports.

The two companies reportedly are likely to jointly run the new digital platform, which will offer products and services including food delivery and bill payment, and more foreign investors may be brought in.

Goldman Sachs is said to have been appointed investment banker by Walmart for the proposed transaction.

The app’s valuation is estimated at $50B-$60B, according to the report.

Earlier today, reports said Walmart is leaning towards naming an investor group backed by TDR Capital and EG Group as the preferred bidder for a stake in its Asda U.K. grocery unit.





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