Details on Walmart's Flipkart investment

Walmart (NYSE:WMT) says its investment will help accelerate Flipkart's customer-focused mission to transform commerce in India through technology and underscores Walmart’s commitment to sustained job creation and investment infast-growing India.
The terms of the deal see Walmart will pay ~$16B for an initial stake of approximately 77% in Flipkart. The remainder of the business will be held by some of Flipkart’s existing shareholders, including Flipkart co-founder Binny Bansal, Tencent, Tiger Global Management and Microsoft.
On an interesting note, Walmart supports Flipkart’s ambition to transition into a publicly-listed, majority-owned subsidiary in the future.
“India is one of the most attractive retail markets in the world, given its size and growth rate, and our investment is an opportunity to partner with the company that is leading transformation of eCommerce in the market,” says Walmart CEO Doug McMillon.
Walmart will host a conference call for analysts and investors at 8:00 a.m. Eastern time.
WMT -3.91% premarket to $82.39.
Source: Press Release
Previously: SoftBank confirms Walmart-Flipkart deal (May 9)