Flipkart in talks with Wal-Mart, CPPIB for $1 b funding – Feedback

After a year of discussions with various global investment firms, Indian e-commerce giant Flipkart may soon close a deal to raise around $1 billion to fuel its expansion and take on arch rival Amazon.in.

According to two sources, the Bengaluru-based company is exploring the option of seeking funds from the Canada Pension Plan Investment Board (CPPIB) and US retail giant Wal-Mart Stores. CPPIB, which opened an office in India last year, has been quite active in the Indian market and has invested as much as $2 billion since 2010 in companies such as Kotak Mahindra Bank, L&T Infrastructure Development Projects, Piramal Enterprises and Shapoorji Pallonji Group. If the Flipkart deal goes through, it would be CPPIB’s first investment in an internet-based company in India.

http://www.thehindubusinessline.com/todays-paper/flipkart-in-talks-with-walmart-cppib-for-1-b-funding/article9312949.ece

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