Wal-Mart
NEW YORK: Wal-Mart Stores Incorporation is considering taking a smaller stake in South African retailer, Massmart Holdings Limited to keep its listing on the Johannesburg Stock Exchange
Massmart said Thursday that the world‘s biggest retailer informed the company that it may now make a partial offer to buy more than 50 per cent of the company for 148 rands per share.
Associated Press reported that in September Wal-Mart offered to buy all of Massmart for about $4.25bn. The move was viewed as a way for Wal-Mart to jump-start growth beyond its sluggish United States business.
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