India Scrutinizes Wal-Mart Deal With Local Retailer

Law360, New York (October 19, 2012, 1:42 PM EDT) -- Indian regulators have begun an informal probe into a politician's complaint that Wal-Mart Stores Inc. violated the country's foreign investment restrictions by acquiring part of a shopping center owner in a 2010 deal, multiple media outlets reported Friday.

At issue is a roughly $100 million investment by Bentonville, Ark.-based Wal-Mart in Bharti Retail Ltd., an Indian company that owns more than 200 supermarkets in the country. Wal-Mart received debt securities for its payment, with the option of converting them into a 49 percent stake in Bharti...
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