Walmart paid $334 million to end India partnership

Annual report says transaction resulted in a net loss of about $151 million

Walmart Stores Inc paid about $234 million in debt related to the purchase of a stake in its joint venture with Bharti Enterprises, which the US retailer ended in October last year, according to its 2014 annual report.

Walmart, the world's largest retailer, had earlier paid $100 million to take over its Indian partner's 50% stake in Bharti Walmart Pvt Ltd, which runs 20 wholesale stores under the Best Price Modern Wholesale brand.

The transaction resulted in a net loss of about $151 million, according to the company's consolidated statement of income.

Bharti and Walmart JV was marked by troubled times in the last couple of months. Former Walmart India country head Raj Jain joined Bharti group as a immediate fallout of the termination.

While calling off the JV, the two companies had said that they reached an agreement to independently own and operate separate business formats in India, and discontinue their franchise agreement in the retail business.

Bharti said that they will continue to invest and run Easyday stores in the country.

The two had joined hands in 2007, and launched their first cash-and-carry store in Amritsar in May 2009.