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Walmart: about to bid for Massmart's minority shareholders

( - Walmart has announced an agreement in principle on the terms and conditions of a potential offer to acquire the shares of its South African subsidiary Massmart that it does not already own, excluding treasury shares.

The offer would offer a price of 62 South African rand per share, a 53% premium to the closing price, thereby providing an opportunity for minority shareholders to realise immediate value in an environment that has no short-term catalysts.

It would provide Massmart with Walmart's continued financial and operational support to sustain its turnaround, which has been hampered by Covid-19 restrictions, civil unrest in KwaZulu-Natal and a challenging economic environment.

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