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Wal-Mart wants to buy 51% of the South African Massmart
South Africa
Wednesday 01 December 2010
FJ
The takeover of Massmart will offer to Wal-Mart a significant presence in South Africa and will allow future expansion on the African continent.
2 months ago, Wal-Mart had opened discussions regarding the acquisition of the entire group Massmart, a few weeks later, Wal-Mart made an offer to buy 51% stake in South African group.
Wal Mart offer to purchase 51% of massmark, the total transaction is estimated at about 17 billion rand (1.78 billion euros, 2.36 billion U.S dollars).
Massmart is the third largest distributor of Africa with 9 signs of wholesaler and retailer, including the hard discount “Game” and “Makro”. It has 288 stores. Its turnover was 6.1 billion dollars (4.5 billion €) last year.
The international segment of Wal-Mart represents nearly a quarter (24.7%), more than $ 100 billion, revenue of the group amounted to 405 billion in 2010. The international arm is supported in particular by its activities in Brazil (434 stores), Mexico (1459 stores) and China (279 stores).
Source: romandie Fellow
