Breaking News, Latest News, World News, India News, Cricket, Videos & Photos

Walmart may join Tata group in retail.

On Tuesday, A newspaper reported that Walmart Inc is in Conversation with Tata Group for a deal entailing a strategic investment up to $25 billion in the Indian salt-to-software conglomerate’s new “super app. The main aim of this collaboration to ’ aims to create a digital services behemoth offering a wide range of products in the retail space.

Two people of Tata sons subsidiary discussed on condition of anonymity. If the deal will confirm, it will be the nation’s biggest deal in the retail.
Whereas on May 2018 Walmart purchased 66% stake of flipkart for $17 billion.
According to ongoing discussions between Walmart and flipkart the super app could be launched as a joint venture , which will enable leveraging on the synergies between Tata’s and Flipkart.

As per ongoing converst, the new digital platform business would be run by Tata-Walmart together, and there could be more opportunity for foreign investors. Walmart appointed Goldman Sachs as the investment banker proposed transaction. Emails sent to Tata Sons, Walmart and Goldman Sachs did not any response. The estimated valuation of the superapp is around $50 -60 billion.

The super app, will bring up various consumer businesses under one channel, such as healthcare, food and grocery ordering, insurance and financial services among others including fashion, lifestyle, electronics, over-the-top services, education and bill payments and so on. The super app is scheduled to be launched in December or January in country. Tata group has the largest franchise as compare to Jio.
Tata group sells tea coffee, water, salt, lentils, spices, ready to eat items, sweetener, etc. It also manufacturers fashion accessories such as watches, jewellery and eyewear.
Tata’s other products include Tata AutoComp systems, Croma, Tata Swach, Magadi Soda Co., Advinus Therapeutics, Casa Décor and Tata Ceramics and so many.