Global retail giant Walmart has got fair trade regulator CCI’s green signal for purchase of BhartiBSE 4.17 % group’s almost 50 per cent stake in their Indian joint venture for wholesale stores business.
Earlier this month, the CCI had asked Walmart and Bharti Ventures Limited (BVL) to “remove certain defects and provide” certain additional details for the approval.
The remaining shares are already held by Walmart and the purchase of additional shares would take its total holding in Bharti Wal-Mart Private to 100 per cent.
BVL presently holds 100 per cent of Cedar’s equity and after the transaction, the Bharti group would own a 100 per cent stake in Cedar without any CCD holding by Walmart.
“…It is observed that the proposed combination would not result in the elimination of any competition from the markets for the wholesale, retail or the real estate services.