Bentonville, Ark. – Wal-Mart Stores Inc. incurred a net loss of $151 million in the process of ending its partnership with former Indian partner Bharti Enterprises. According to Wal-Mart financial statements, in October 2013 the retailer paid $100 million for Bharti’s 50% interest in Bharti Wal-Mart Pvt. Ltd., which operates 20 wholesale stores in India.
In addition, Wal-Mart paid and forgave another $234 million of debts as part of the buyout, for a total expenditure of $334 million that produced the $151 million net loss. Wal-Mart had been partners with Bharti since 2007 and has said it plans to open 50 wholesale stores in India during the next four to five years.