Walmart aims to buy out Massmart in Africa

Date : 29 August 2022

Stewart Samuel

Director of Retail Futures

Walmart and Massmart have reached an agreement in principle on a R6.4 bn offer from Walmart to acquire the outstanding shares (47%) in Massmart that it does not already own. Missed expectations Walmart initially acquired a 51% stake in Massmart in 2011. While it was seen as a long-term…
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