Walmart: sells 80% of Brazilian unit
(CercleFinance.com) - US private equity firm Advent has agreed to take an 80% stake in Walmart Brazil, with Walmart set to retain the remaining 20% of the Brazilian unit, the US retailing giant said late on Monday.
Following the transaction, Walmart expects to record a non-cash, net loss of approximately 4.5 billion dollars in the second quarter, mostly due to the recognition of changes in currency exchange rates.
Expected to close later this year, Walmart does not believe it will have a material impact on its EPS in the current fiscal year, and will have a slight positive impact next fiscal year.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
Following the transaction, Walmart expects to record a non-cash, net loss of approximately 4.5 billion dollars in the second quarter, mostly due to the recognition of changes in currency exchange rates.
Expected to close later this year, Walmart does not believe it will have a material impact on its EPS in the current fiscal year, and will have a slight positive impact next fiscal year.
Copyright (c) 2018 CercleFinance.com. All rights reserved.