Walmart said on Monday that it has sold an 80 percent stake in its Brazilian operations to private equity firm Advent International, exiting an underperforming business in its third major international deal since April.
Wal-Mart Stores Inc is looking to sell part of its operations in Brazil, where it has struggled, yet missteps by the U.S. retail giant have narrowed the field of potential buyers and could lower the value of any deal.
Wal-Mart Stores Inc is in talks with buyout firm Advent International Corp and other funds to sell a major stake in its Brazilian operations, two people with direct knowledge of the matter said on Sunday.
It seems to be the season for speculating about who is (or isn’t) bidding for which company and the latest rumour to emerge is that Investindustrial is on the shortlist to buy cycling specialist Rapha.
European private equity firm Investindustrial has invited the investment vehilce of Alibaba's founder Jack Ma to submit a last-minute joint bid of more than 800m euros for L'Oreal's The Body Shop, according to sources.