Green light for Massmart acquisition

Walmart, the N° 1 distributor worldwide will be able to enter the African market

 
The South African authorities have agreed the offer of  Wal-Mart for the purchase of the Massmart Group. The operation is estimated at about 17 billion rand (2.36 billion dollars or 1.78 billion Euros) for the 51% of Massmart. The sign of South Africa is at the third rank of distribution in Africa, has 9  signs of wholesale and retail , 288 stores in 14 countries.

 
The merger is approved under certain conditions. The competition authorities require that Wal-Mart does not remove any jobs for 2 years and is committed to working with local suppliers.

 
For business, these conditions imposed could make hesitate other major international groups to establish itself in a market that seems so constrained.
 

source : reuters, rfi, boursier