https://techcrunch.com/2018/06/04/walmart-brazil-advent/

Walmart’s ongoing push to cut away unprofitable or slow-growing international operations, to shore up its resources to compete against Amazon at home and in Asia on digital fronts, had another development today. The world’s largest retailer today announced that it has finalised a deal to sell 80 percent of its business in Brazil to private equity firm Advent International, with Walmart keeping the remaining 20 percent.

The deal has been in the works for months and is expected to close later this year.