Wal-Mart to Expand Into Africa
(Market Watch) — The retail giant (WMT 53.39, -0.09, -0.17%) has offered to buy Johannesburg, South Africa-based Massmart Holdings Ltd. (ZA:MSM 14,900, +1,425, +10.58%) for more than $4 billion in a move to jump-start its entry into the fast-growing African market. Read more about Wal-Mart’s deal.
Massmart is a top distributor and retailer of consumer goods and general merchandise on the African continent, Wal-Mart said. It runs 290 stores in 13 countries in Africa, with most of its stores in South Africa, and manages eight wholesale and retail chains under a variety of different brand names.
SEE ALSO
- Anita Baker To Embark On Nationwide Tour For The First Time Since 1995
- Adonis Dfetty Immediately Stirs Up Drama And Fist Fights In ‘Bad Boys Texas’ House
- Georgia Judge Prohibits Tiffany Haddish From Drinking And Ingesting Illegal Substances
- Nia Long Isn’t Happy With How The Boston Celtics Handled Ime Udoka’s Cheating Scandal
- Lenny Kravitz Maintains Rock God Status With Bubble Bath Thirst Trap And A Phone Call From Denzel Washington During Performance
