Wal-Mart bids US$4.3 billion for South Africa's big retailer

WAL-MART has announced offer of US$4.3 billion to by South Africa's biggest retailer Massmart as part of its international expansion. It already operates in Argentina, Brazil, Canada, China, Costa Rica, El Salvador, Guatemala, Honduras, India, Japan, Mexico, Nicaragua and the UK.

Johannesburg's Massmart is Africa's biggest retailer of general merchandise, home improvement equipment, supplies and food basics and is a major distributor for Africa, with 290 stores in 13 countries with most of them in South Africa.

Wal-Mart is expected to use its supply chain expertise and technology to make Massmart more efficient, reported American Shipper, also noting Wal-Mart had pulled out of Germany and South Korea because of "challenges unique to those markets".
(Source:www.schednet.com)