Content about Massmart Holdings Limited

June 20, 2011

BENTONVILLE, Ark. — Wal-Mart Stores announced that it has completed its investment for a 51% stake in South African-based Massmart Holdings Limited for ZAR148 per Massmart ordinary share.

Massmart will continue to trade on the JSE Limited to provide Massmart shareholders with the ability to participate in the growth opportunity of the combined entity.  

June 14, 2011

A Tuesday report by Bloomberg said that South Africa’s Economic Development Ministry made an “aggressive intervention” in Wal-Mart Stores’ bid to buy a stake in Massmart Holdings Ltd.

JOHANNESBURG, South Africa — A Tuesday report by Bloomberg said that South Africa’s Economic Development Ministry made an “aggressive intervention” in Wal-Mart Stores’ bid to buy a stake in Massmart Holdings Ltd.

 South Africa’s Trade, Economic Development and Agriculture Ministries made a joint bid to the Competition Tribunal to force Wal-Mart to restrict imports if it buys a controlling stake in Johannesburg-based Massmart, concerned about job losses.

May 9, 2011

Massmart Holdings Ltd. promised to add jobs if Wal-Mart Stores is allowed to buy a controlling stake in the South African wholesaler, CEO Grant Pattison.

NEW YORK — Massmart Holdings Ltd. promised to add jobs if Wal-Mart Stores is allowed to buy a controlling stake in the South African wholesaler, CEO Grant Pattison. His remarks were made on Monday at a tribunal in Pretoria, South Africa, that will determine whether Wal-Mart will be able to go through with the deal.

“We’ll add about 20%more trading space over the next three years,” Pattison said, according to Bloomberg. Growth in floor space will be accompanied by additional jobs, while current posts will also be secure, he said.

October 28, 2010

New York City - Wal-Mart Stores is considering taking a smaller stake in South African retailer Massmart Holdings Ltd. to keep its listing on the Johannesburg Stock Exchange, the Associated Press reported.

New York City - Wal-Mart Stores is considering taking a smaller stake in South African retailer Massmart Holdings Ltd. to keep its listing on the Johannesburg Stock Exchange, the Associated Press reported.

Massmart said Thursday that Wal-Mart informed the company that it may now make a partial offer to buy more than 50% of the company for 148 rands ($21.06) per share.

In September Wal-Mart offered to buy all of Massmart for about $4.25 billion.

September 27, 2010

Walmart and Africa’s leading retailer Massmart Holdings Limited are in talks that could lead to a $4.4 billion deal, the companies announced early Monday.

Walmart and Africa’s leading retailer Massmart Holdings Limited are in talks that could lead to a $4.4 billion deal, the companies announced early Monday. The nonbinding proposal outlined by the companies envisions an all cash deal in which Walmart would pay 148 South African Rand, or roughly $21 per share, to acquire Massmart’s outstanding shares.

September 26, 2010

Walmart and Africa’s leading retailer Massmart Holdings Limited are in talks that could lead to...