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Wal-Mart sets out to conquer Africa
United States
Friday 01 October 2010
FJ
Wal-Mart is counting on emerging countries to compensate decline of the American market.
The American group Wal-Mart announced its intention to launch an offer of repurchase on the South African group Massmart.
Wal-Mart is going to enter the South African Republic and try to develop on a promising emerging market.
Massmart’s group account 9 wholesales markets chains and 254 selling points. Massmart also controls 24 stores in the other African countries (Botswana, Zimbawe, Tanzania, Niger, Ghana). Massmart realized 4,7 billion euro of turnover in 2009-10.
Wal Mart proposes 4,6 billion dollars (3,45 billion euro) for the whole capital of Massmart.
A sum which only represent 1 % of the American firm’s turnover.
Source : les echos, romandie, le monde.
