Advent to take majority stake in Walmart Brazil

Private equity firm Advent International announced plans Monday to take an 80 percent stake in Walmart's Brazilian business as the retailer continues efforts to reshape its global business.

The Bentonville, Arkansas-based retailer said it will retain the remaining 20 percent stake in Walmart Brazil.

The transaction is subject to approval from Brazillian regulators.

The amount of the deal was not disclosed.

Walmart said it expects to take a noncash net loss of approximately $4.5 billion, largely due to currency fluctuations.

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