Walmart in talks to invest $25 bn in Tata Group's 'super app
Published On: Tuesday, September 29, 2020 | By: Team KnowMyStock
Walmart is in talks with Tata Group for a potential investment of up to $25 billion in a proposed super app. As per discussions reported between the two companies, the super app could be launched as a joint venture between Tata and Walmart, leveraging on the synergies between Tata's e-commerce business and Flipkart, Walmart's e-commerce unit, according to the report. The news comes as Reliance Industries Ltd, controlled by Asia's richest man Mukesh Ambani, raised over $20 billion from investors including Facebook, Alphabet's Google, KKR & Co and Silver Lake Partners by selling stakes in its digital business Jio Platforms. The super app, which is scheduled to be launched in India in December or January, will bring together Tata's consumer business under one channel offering a wide range of products in the retail space, Mint said. Tata's consumer businesses include watch and jewellery brand Titan and fashion retail chain, Trent.
The Walmart investment could touch $20 billion to $25 billion eventually for a large stake in the proposed super app that will be hosted under a Tata Sons unit. If the deal materialises, it will be the country’s largest deal in retail space, overshadowing Walmart’s 2018 purchase of 66 per cent stake in Flipkart for $16 billion.
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