what happened to walmart after its 51% share in massmart in 2011
 | |
| Type | Public subsidiary |
|---|---|
| Traded as | (JSE: MSM) |
| Manufacture | Retail |
| Founded | 1990 (1990) |
| Founder | Marker Lamberti[1] |
| Headquarters | Sandton South Africa |
| Number of locations | 414 (31 January 2022)[2] |
| Area served | Sub-Saharan Africa |
| Products | Food, Liquor, Full general merchandise, Home Improvement |
| Revenue |  R91.564 billion (2016)[3] : 40 |
| Operating income | R2.603 billion (2016)[3] : 40 |
| Cyberspace income | R1.322 billion (2016)[iii] : 40 |
| Total assets | R31.883 billion (2016)[3] : 43 |
| Total equity | R6.183 billion (2016)[iii] : 43 |
| Number of employees | 45,000+ (2015) |
| Parent | Walmart (2011–nowadays) |
| Divisions | Massdiscounters, Masswarehouse, Masscash, Massmart |
| Subsidiaries | Makro Game Builder's Superstores CBW |
| Website | www |
Massmart Holdings Express (JSE: MSM) is a South African firm that owns local brands such equally Game, Makro, Architect'due south Warehouse and CBW. It is the 2d-largest distributor of consumer goods in Africa, the largest retailer of general merchandise, liquor and habitation improvement equipment and wholesaler of bones foods.[4] As of 31 January 2022, Massmart operated 414 stores in Southward Africa and 12 other Sub-Saharan countries.[v] Its caput offices are in the Massmart Business firm in Sandton, Johannesburg.
History [edit]
Massmart was founded in 1990, beginning with the conquering of six Makro stores. It listed on the JSE Express on 4 July 2000 at R12.50 per share. Since its founding, Massmart has grown both organically and by acquisition. The house conquering history includes:
- 378 Shield members in March 1992
- 20 Dion stores in May 1993
- 14 CCW stores in June 1998
- 26 Game stores in July 1998
- 6 Jumbo stores in April 2001
- 22 Browns and Weirs stores in July 2002
- 8 Builders Warehouse stores in February 2003
- iii De Lay Rey stores, 14 Servistar stores, and 34 Federated Timber stores in June 2005
- 6 Cambridge Food stores in Dec 2008
- three Buildrite stores in June 2009
- Fruitspot (wholesaler of fresh fruits and vegetables) was acquired in January 2012
- Rhino Greenbacks & Carry Group in March 2012
Divisions [edit]
Massmart's stores are organized into iv divisions. The stores included in each sectionalization are as follows:
- Massdiscounters
- DionWired (operates in South Africa)
- Game (operates in South Africa, Botswana, Republic of ghana, Malawi, Mozambique, Namibia, Nigeria, Tanzania, Uganda, Zambia and Kenya - commencement May 2015[half-dozen])
- Masswarehouse
- Makro (operates in South Africa, two stores in Zimbabwe were sold in fiscal twelvemonth 2011)
- The Fruitspot (operates in South Africa)
- Massbuild
- Builders Warehouse (operates in South Africa, Botswana, Republic of zambia and Mozambique)
- Builders Express (operates in South Africa)
- Builders Merchandise Depot (operates in South Africa and Mozambique)
- Builders Superstore (operates in South Africa)
- Kangela (operates in Mozambique)
- Masscash
- CBW (operates in S Africa, Botswana, Lesotho, Mozambique, Namibia, and Swaziland)
- Jumbo Cash and Carry(operates in South Africa and Botswana)
- Trident (operates in Botswana)
- Cambridge Nutrient (operates in South Africa)
- Shield (operates in Due south Africa, Botswana, Kingdom of lesotho, Namibia, and Swaziland)
Walmart acquisition [edit]
In November 2010, Walmart, the American super chain conglomerate made a bid to larn bulk shareholding (51%), in Massmart. At that fourth dimension, the offering was valued at approximately R:17 billion (approximately Usa$ii.54 billion or £i.54 billion).[7] [8] On eighteen Jan 2011, Massmart shareholders voted in favour of Walmart's offer of R148 per share.[8] The South African Contest Commission Tribunal gave its approval of the acquisition of 51% of the firm in May 2011.[nine] Shortly thereafter, in June 2011, Walmart completed the purchase of 51% of the company's stock.[ten]
In August the S African ministries of merchandise and industry, economic evolution and agriculture and fisheries lodged an appeal to the conclusion of the Competition Tribunal's decision to allow the merger with minimal conditions, this follows an entreatment filed earlier by SACCAWU, a local labor union. In March 2012 the appeals court dismissed the example by the governmental ministries, simply acknowledged that in that location were legitimate concerns about the effect of the deal on small producers and employment. The appeals court conclusion effectively put an finish to the legal challenges to the merger.[eleven]
[edit]
Below is the group's largest shareholders equally at December 2016:[iii] : 25
| Majority shareholders | December 2016 (%) |
|---|---|
| Walmart | 52.iv |
| Aberdeen Asset Direction PLC | 21.three |
| Public Investment Corporation (SA) | v.6 |
| Others | twenty.vii |
References [edit]
- ^ "Imperial taps Massmart founder as CEO". Fin24.com. Reuters. 20 February 2014. Retrieved vii Baronial 2019.
- ^ "S Africa - at a glance". stock.walmart.com . Retrieved 1 June 2021.
- ^ a b c d e f "Massmart Annual Results 2016" (PDF). 31 December 2016. Retrieved 22 January 2018.
- ^ Massmart, . (2014). "Overview of Massmart". Massmart.co.za. Retrieved 12 February 2015.
{{cite spider web}}: CS1 maint: numeric names: authors list (link) - ^ "Walmart Investor Relations - Investors - Financial Information - Unit Counts & Square Footage". stock.walmart.com . Retrieved 17 Feb 2022.
- ^ Business Daily Reporter, . (12 February 2015). "Nairobi's Garden City Mall To Open up Doors in May". Business concern Daily Africa (Nairobi) . Retrieved 12 February 2015.
{{cite web}}: CS1 maint: numeric names: authors list (link) - ^ Smith, Nicky (29 November 2010). "Wal-Mart Offers 16.5 Billion Rand for 51% of Massmart". Bloomberg News. Retrieved 12 Feb 2015.
- ^ a b BBC News, . (17 January 2011). "South African Retailer Massmart Backs Sale To Wal-Mart". BBC News . Retrieved 12 Feb 2015.
{{cite web}}: CS1 maint: numeric names: authors list (link) - ^ BBC Business, . (31 May 2011). "Wal-Mart Cleared To Buy S Africa'due south Massmart". BBC News . Retrieved 12 February 2015.
{{cite web}}: CS1 maint: numeric names: authors listing (link) - ^ Team, Trefis (x June 2011). "Wal-Mart Takes on Africa With Massmart". Forbes.com . Retrieved 12 February 2015.
- ^ Tiisetso Motsoeneng, and Wendell Roelf (9 March 2012). "Wal-Mart Wins Concluding Go-Ahead for Massmart Deal". Reuters. Retrieved 12 February 2015.
External links [edit]
- Official website
scottbrerefrommen.blogspot.com
Source: https://en.wikipedia.org/wiki/Massmart
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