- August 21, 2024
- Posted by: legaleseblogger
- Category: Related News
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Walmart Inc. Sells Stake in JD.com Inc. for $3.6 Billion
Walmart Inc. has recently announced that it has raised approximately $3.6 billion by divesting its stake in Chinese e-commerce giant JD.com Inc. This move marks the culmination of an eight-year partnership between the two companies, which seems to be yielding diminishing returns due to the challenging environment faced by Chinese tech giants.
The US retail giant offloaded 144.5 million shares of JD.com at a price of $24.95 per share, according to sources familiar with the transaction. These sources, who preferred to remain anonymous as the information is confidential, revealed that the selling price represented an 11% discount compared to JD.com’s closing price in the US on Tuesday. Additionally, the sale price fell within the expected price range of $24.85 to $25.85 per share.
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