Wal-Mart Bids $4.25 Bil. for S. Africa's Massmart
By wchung | 12 Apr, 2026
Wal-Mart-Stores Inc. says it has offered to buy South African retailer Massmart Holdings Ltd. for approximately $4.25 billion.
A deal would give the world’s largest retailer an opening to expand in Africa, a fast-growing region.
Wal-Mart said Monday that it would pay 148 rands ($21.11) per share for Massmart, which has 201.5 million shares outstanding according to Thomson Reuters.
Massmart, based in Johannesburg, runs 290 stores in 13 countries in Africa, with most majority in South Africa. It also manages eight wholesale and retail chains under various brand names.
Wal-Mart is based in Bentonville, Ark.
BENTONVILLE, Ark. (AP)
Recent Articles
- BTS Fans Flock to AMC Theater for First ‘Arirang’ Tour Concert
- Beijing Offers Incentives to Taiwan After Opposition Leader's Visit
- US Leaves Iran Peace Talks Without Deal
- Chinese Investments in Brazil Pivot from Dams to Consumer Products
- US Agreed to Unfreeze Iranian Funds Says Iranian Source
- China Preparing Weapons Shipment to Iran According to US Intel
- Two Chinese Oil Tankers Transit Strait of Hormuz
- Artemis II Ends in Safe Splashdown for Astronauts of 10-day Moon Swing-by
- What Is the 25th Amendment and How Might It Fit the Moment?
- Coachella Draws Asian Power Attendees with Global Talent