NEW YORK (AP) — Walmart Inc. is selling an 80 percent stake in its Brazilian operations to a global private equity firm as it reduces its presence in countries where it's struggling.
Under the deal with Advent International, Walmart expects to keep a 20 percent stake. The companies did not specify a value on the deal.
Walmart expects to record a non-cash, net loss of about $4.5 billion in the second quarter due to the transaction. It says it expects to receive up to $250 million over time, based on the unit's performance, and that Advent will contribute additional capital over three years.