Clifford Chance

Walmart's acquisition of Chinese B2C online retail platform and potential ramifications for future deals in China's expanding retail sector

1 November 2012

China’s Ministry of Commerce (MOFCOM) recently adopted its 15th conditional clearance. The decision concerned the acquisition by Wal-Mart Stores Inc. (Wal-Mart), one of the world’s largest supermarket chains, of a controlling stake in Newheight Holdings Ltd. (Newheight). Wal-Mart increased its stake in Newheight from 17.7% to 51.3% thereby becoming Newheight’s controlling shareholder. As a result, it also acquired indirect control over Shanghai Yishiduo E-commerce Co., Ltd. (Yishiduo), a provider of value-added telecoms services and owner of Yihaodian, China’s largest online supermarket. 

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