It probably ranks as the longest, most drawn-out takeover in SA corporate history. With luck, by the end of 2022 Walmart should be able to wrap up the purchase of the 47% of Massmart it doesn’t already own. That will be just over 12 years after the US retail giant first approached Massmart with an offer for 100% of the shares.

As it happens, share price valuations and exchange rate moves since 2010 mean Walmart will be getting the whole SA business for about 30% less than it initially intended paying for the 100% it wanted. What’s more, it’s a considerably larger business and one Walmart knows well, having spent at least three years aggressively cleaning it up. ..

Subscribe now to unlock this article.

Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).

There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.

Cancel anytime.

Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.

Speech Bubbles

Please read our Comment Policy before commenting.