Massmart

Ten years ago Massmart, which is South Africa's leading wholesale warehouse business, decided that it needed a global partner.

The Economist: Correspondent's diary 2011

Warren Buys, a Cadiz Asset Management portfolio manager, said Massmart, which is Africa's third largest distributor of consumer goods, needed to revitalise the Game brand in the long-term strategy.

IOL: News 2010

South Africa's retailers have also seen some good numbers recently with companies such as Massmart posting decent numbers, with sales increasing 13\% for the period to December 2008.

Mail & Guardian Online 2009

Retailing giant Wal-Mart Stores said it has made a preliminary, nonbinding proposal to buy Johannesburg-based Massmart Holdings Ltd. for $4.6 billion.

Deals News Lifts U.S. Futures Polya Lesova 2010

The companies said Wal-Mart has made a nonbinding proposal that could lead to a cash offer of 148 rand a share for Massmart, which operates under a number of brands in the sub-Saharan region.

Wal-Mart Bids $4.6 Billion for South Africa's Massmart Robb M. Stewart 2010

The continent's prospects have proved alluring for Wal-Mart Stores Inc., which has agreed to pay roughly $2.4 billion to buy 51% of South Africa's Massmart Holdings Ltd., with plans to use the discount retailer as a foothold for continental expansion.

A New Class of Consumers Grows in Africa Peter Wonacott 2011

JOHANNESBURG — Retail giant Wal-Mart Stores Inc. is making a foray into the fast-growing African market with an offer to buy South African wholesaler Massmart Holdings Ltd. in a deal valued at around 32 billion rand ($4.6 billion).

Wal-Mart Bids $4.6 Billion for South Africa's Massmart Robb M. Stewart 2010

Massmart, which was founded in 1990 and listed in Johannesburg in 2000, owns chains such as Game, Builders Warehouse and Makro that have stores across South Africa and in 13 other countries in the region.

Wal-Mart Bids $4.6 Billion for South Africa's Massmart Robb M. Stewart 2010

"It is early days," Massmart Chief Executive Grant Pattison told reporters during a conference call, adding that management from both companies first met Friday in London and held talks over the weekend.

Wal-Mart Bids $4.6 Billion for South Africa's Massmart Robb M. Stewart 2010

Mr. Pattison said that if due diligence by Wal-Mart is successful, regulatory and shareholder approval for a takeover of Massmart would be sought.

Wal-Mart Bids $4.6 Billion for South Africa's Massmart Robb M. Stewart 2010