Salisbury’s will buy Asda for $4.1 billion and a 42 percent stake in their company, making Walmart its largest minority shareholder. Walmart recently realigned its business in India to focus more on the online retailer Flipkart while also scaling down its operations in Brazil.
Though more than 50 percent of the company’s stores are located outside the U.S., Walmart International only accounts for one third of Walmart’s total revenue. In January, Judith McKenna was named president and CEO of Walmart International.
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