According to Bloomberg reports, Walmart, the largest retail business group in the United States, is planning to sell JD.com, a major e-commerce giant in China, in which the company holds a stake, with an estimated amount of 3.74 billion dollars expected from the sale.
Walmart plans to sell 144.5 million shares of JD.com at a price range of 24.85-25.85 dollars per share. The report indicates that Morgan Stanley has been involved as an intermediary in this deal.
Walmart is the largest shareholder in JD.com, holding 5.19% of the total shares. Walmart became a significant shareholder of JD.com after selling its online superstore business Yihaodian to JD.com in 2016 in exchange for a 5% stake.
Representatives from Walmart, JD.com, and Morgan Stanley have not yet commented on the reports.
Source: Deal Street Asia
TLDR: Walmart is planning to sell a significant stake in JD.com, a major e-commerce player in China, with an expected amount of 3.74 billion dollars from the sale. Morgan Stanley is acting as an intermediary in the deal.
Leave a Comment