WALMART TO SELL 80% STAKE IN BRAZIL BUSINESS

Walmart Inc. is selling an 80% stake in its Brazilian operations to a global private equity firm as it reduces its presence in countries where it’s struggling. Under the deal with Advent International, Walmart expects to keep a 20% stake. The companies did not specify a value on the deal. Walmart expects to record a noncash, net loss of about $4.5 billion in the second quarter due to the transaction.