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Walmart Offers to Buy Rest of Massmart

Walmart already owns 53 percent of the South African retail company, which it purchased in 2010





Walmart (Bentonville, Ark.) has made an offer to purchase the remaining 47 percent of South African retailer Massmart for $377.6 million. The American-based mass merchant already owns the other 53 percent of the company, which it purchased in 2010 for $2.3 billion.

Massmart’s Chair Kuseni Dlamini says the offer seems “fair and reasonable,” according to Reuters. If the deal goes through, Massmart says, Walmart would de-list the company.

The company has struggled in recent years to keep up with its competitors Woolworths and Shoprite, and despite Walmart providing 4 billion rand (roughly $236.4 million USD) during the pandemic, it hasn’t been able to expand further into Africa as planned.

Massmart reportedly said in a statement, “The potential offer, if finalized, will support Massmart with needed access to ongoing financial and operational support.”

The retailer sells a range of products like home goods, apparel and seasonal supplies.




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