Walmart Inc is in discussion with the Tata group to buy a stake in the Tata’s Super App of the salt-to-software conglomerate.
The ‘Tata’s Super App’ aims to create digital services behemoth that will offer a wide range of products in the retail space.
“Tata group is in talks with Walmart for a deal entailing a strategic investment by Walmart in the super app platform business. The Walmart investment could touch $20-25 billion eventually for a large stake in the proposed super app to be hosted under a Tata Sons subsidiary,” said officials connected with the deal.
If happens, this deal will be the country’s largest deal in the retail space ever.
Other than this, One more company which is going to be the first to use IOT technology in Lifts.
“The super app may include Flipkart’s offerings from Walmart and the entire retail product franchise housed by the Tata group on one platform for retail customers. And on the other hand, Flipkart could get to be powered by Tata,” the person said.
According to them, Goldman Sachs has been appointed as the investment banker by Walmart for the proposed transaction.