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Walmart store. Credit: Diego M. Radzinschi/ ALM

Lawyers from a half-dozen large law firms are advising on a $16 billion deal announced Wednesday that will see Walmart Inc. acquire a majority stake in Indian e-commerce giant Flipkart Internet Private Ltd., better known as Flipkart.

The transaction will see Walmart take a 77 percent stake in Bengaluru-based Flipkart. The remainder of the online shopping company will be owned by its existing investors, including Flipkart co-founder Binny Bansal, Chinese conglomerate Tencent Holdings Ltd., hedge fund Tiger Global Management and technology industry titan Microsoft Corp.

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Xiumei Dong

Xiumei Dong covers the business of law from the West Coast. Contact her at [email protected] On Twitter: @XiumeiDong.

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