Flipkart to acquire Snapdeal
Posted on: 12/May/2017 3:07:03 PM
In an all-stock deal, Flipkart has made an informal offer for buying Snapdeal for $1 billion. There is vast difference between SoftBank Group and the 2 other stakeholders of Snapdeal.
While the conflict among SoftBank, Nexus Venture Partners and Kalaari Capital have still not resolved, as per recent talks, a closer deal is being prompted. Those aware about the discussion have also requested for anonymity because the talks are confidential.
In the next few days, Flipkart’s non-binding offer and formal term sheet are to be officially authorized. By next week, the following processes are likely, said the people.
Jasper Infotech Pvt Ltd is a Delhi based company behind Snapdeal. This has not reached any consensus about exit payouts. Both Nexus and Kalaari have together given nod for signing the deal through due diligence.
Neither Flipkart nor Snapdeal have any response to be given regarding this. It was on 3rd May that the board of directors of Jasper Infotech had agreed for the deal to sell the company to Flipkart.
