Accel, Tiger Global in talks to exit Flipkart in $1.5 billion stake sale: Report

Private equity company Accel Partners and Investment management company Tiger Global, two early backers of ecommerce giant Flipkart, are in talks to sell their remaining stake in the company to parent Walmart Inc for about $1.5 billion, The Economic Times reported on Thursday.

Accel owns a little over 1 per cent stake in Flipkart, while Tiger Global holds about 4 per cent stake. Once the deal is finalised, Walmart’s stake will increase from the current 72 per cent.

“They (Accel and Tiger) want to sell and exit now fully. The discussions are moving ahead and the transaction will close in due time,” a person familiar with the matter told the publication.