WalMart paid $334 million to end India partnership

Mumbai: WalMart Stores Inc paid about $234 million in debt related to the purchase of a stake in its Indian joint venture with Bharti Enterprises, which the US retailer ended in October last year, according to its 2014 annual report.

WalMart, the world's largest retailer, had earlier paid $100 million to take over its Indian partner's 50 per cent stake in Bharti WalMart Pvt Ltd, which runs 20 wholesale stores under the Best Price Modern Wholesale brand.

The transaction resulted in a net loss of about $151 million, according to the company's consolidated statement of income.