Walmart Stores Inc, the world's largest supermarket, looks set to become the first foreign company to invest in multi-brand retail by buying a 49% stake in Cedar Support Service, the holding company for Bharti Retail, in September for Rs 455.8 crore.
Walmart will convert compulsory convertible debentures (CCDs), purchased in March 2010, into 42.6 crore equity shares, according to internal documents detailing the venture's future plans that were reviewed by ET. The due date for conversion ends in September.
