The deal will see an “expected inflow of foreign direct investment” of R6.4bn.
Reuters/EDGARD GARRIDO
“As a credible and high visibility international enterprise, with a 12-year operational history in SA, Walmart’s potential offer could stimulate investor interest and confidence in the face of depressed local and international investor sentiment, thereby assisting in the economic recovery of the country,” said Massmart.
Also on Monday, in a move it said was “unrelated to the potential offer”, Massmart said its CEO Mitchell Slape would step down at the end of the year after taking up the role in 2019 with COO Jonathan Molapo, who joined the group in January, succeeding him in January 2023.
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