-
Walmart splits with Indian JV partner
Walmart and its joint venture partner in India, Bharti Enterprises, are parting ways after six years, the companies announced.
Plans call for Walmart to acquire Bharti’s 50% stake in their joint venture begun in 2007 to operate cash and carry wholesale stores branded as Best Price Modern Wholesale. At the time, that was the only sector of retail where Indian law allowed for foreign direct investment. The first Best Price store opened in 2009 and today there are 20 units spread throughout India.
-
Palmetto Gardens pays off loan, avoids foreclosure, signs Wal-Mart
Miami Gardens, Fla. — The owners of Palmetto Gardens Plaza, a 7.1-acre center in Miami Gardens, have reached a settlement with PNC Bank, secured a new loan with Hudson Financial Services and signed a lease with Wal-Mart for a Neighborhood Market Store as its anchor tenant.
In January of 2010, PNC Bank filed a foreclosure action against Palmetto Design Center, the property owner. That action has been settled.