Aircraft flies over a Wal-Mart signboard in Mexico City March 24, 2015.
Reuters/Edgard Garrido/File Photo
<articleLocation” > Wal-Mart Stores Inc stated it would offer its Chinese e-commerce business, Yihaodian, to China’s JD.com Inc. Under the offer, JD.com will release about 145 million new class A shares to Wal-Mart, representing about 5 percent of its overall shares.
Wal-Mart took a stake in Yihaodian, which accommodates affluent female consumers, in 2011 prior to taking full ownership in July 2015, integrating the Chinese business’s local know-how with its international sourcing and supply chain capabilities.
( Reporting by Sruthi Ramakrishnan in Bengaluru; additonal reporting by Rishika Sadam; Editing by Anil D’Silva).