A new report from the Washington Post shows Walmart will soon sell its U.S. retail operations to Walmart Stores Inc., a move that is expected to increase its earnings by as much as $6 billion per year and create millions of jobs in the process.
The report, which is based on anonymous sources familiar with the matter, says Walmart has begun discussions with several potential buyers and expects to make an offer by the end of next month.
While the deal would be a major win for Walmart, it would be the first major acquisition by a private company in the company’s history.
The chain will have to convince the government to allow the sale of its stores, which account for more than half of the company´s U.K. and U.A.E. stores.
Walmart, which has been struggling to expand overseas, has been facing a string of challenges in the U.L.G.O., which includes a lack of stores and competition from online retailers like Amazon.
The U.B.C. says the ULLO has struggled to attract business to its stores in the past.
As a result, Walmart has been working to build new stores, including a new flagship store in Chicago, as well as the company is working to establish a network of more than 500 stores in other U.s. markets.
In recent months, Walmart is said to have also begun discussions about the sale to Walmart Partners, the private equity firm led by the billionaire hedge fund manager Robert Mercer.
If the deal is approved, it will be the third major deal by a privately held company to be approved by the government in less than a year.
The first was the $8.7 billion acquisition of Whole Foods by Amazon.
Amazon announced its purchase of Whole Food in 2016 for $13.4 billion.