AZB and JSA act on Bharti – Walmart retail venture break-up

US retail major Walmart is acquiring Bharti’s stake in Bharti Walmart Pvt Ltd, a joint venture between Bharti and Walmart, giving Walmart 100 percent ownership of the Best Price Modern Wholesale cash and carry business. This move marks the end of their six year old partnership..Simultaneously, Bharti will acquire Compulsory Convertible Debentures (CCDs) held by Walmart in Cedar Support Services, a company owned and controlled by Bharti-run EasyDay, according to the company release. Bharti will continue to run its 200 or so Easyday stores..AZB & Partners is advising Bharti with a team led by Corporate Partner Gautam Saha along with Senior Associate Sachin Mehta and Associate Srishti Sharma. AZB team also included Shuchi Sinha, Swati Chauhan, Varun Lamba and Vinit Nalwadi..On the competition law aspect, Competition Partner Samir Gandhi acted for Bharti along with Senior Associate Aparna Mehra and Associate Bidisha Das..J. Sagar Associates is advising Walmart on this transaction. It is understood that JSA Partner Shivpriya Nanda is leading the corporate team while Competition Partner Amitabh Kumar along with Associate Gautam Shahi are advising on the competition law issues..Bharti and Walmart had entered into Joint Venture in August 2007 to serve small retailers, manufacturers and farmers. The first store was opened in 2009. Bharti Walmart presently operates around 20 wholesale stores in India under the Best Price Modern Wholesale brand.