June 4, 2018 / 12:46 PM / 6 months ago

Advent International picks up majority stake in Walmart Brazil

NEW YORK, June 4 (Reuters) - Walmart Inc said on Monday private equity firm Advent International will pick up a 80 percent stake in Walmart Brazil and the retailer will retain the remaining 20 percent.

As a result of the transaction, Walmart expects to record a non-cash, net loss of approximately $4.5 billion as a special item in the second quarter.

Reporting by Nandita Bose in New York

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