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Wal-Mart Stores Inc Call Off India JV With Bharti Enterprises; Acquires Bharti's 50% Stake In Bharti Wal-Mart Pvt Ltd-Reuters

Wednesday, 9 Oct 2013 12:25am EDT 

Reuters reported that Wal-Mart Stores Inc and its Indian partner Bharti Enterprises are breaking up their joint venture and will independently own and operate separate businesses in India, the companies said in a joint statement on October 9, 2013. Wal-Mart will acquire Bharti's 50% stake in Bharti Wal-Mart Pvt Ltd, which runs about 20 wholesale stores in India under the Best Price Modern Wholesale brand, and will run the business independently.