Massmart is a leading South African multinational retailer that operates in 13 countries across Africa. It was founded in 1993.
Massmart is a subsidiary of Walmart, the world's largest retailer. Walmart acquired a 51% stake in Massmart in 2011.
Massmart operates a portfolio of 13 retail formats, including Game, Makro, and Builders Warehouse. These formats cater to different customer segments, from budget-conscious consumers to high-end shoppers.
Massmart's business model focuses on providing a wide range of products at competitive prices.
Massmart Structure
Massmart's stores are organized into 4 divisions.
Each division has its own unique set of stores, but we don't know which specific stores are included in each division.
Walmart Involvement
Walmart made a bid to acquire majority shareholding (51%) in Massmart in November 2010, with an offer valued at approximately R17 billion.
The offer was accepted by Massmart shareholders on 18 January 2011, with a price of R148 per share. This was approximately $8 per share or £6.50 per share at the time.
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South Africa's Competition Tribunal gave its approval of the acquisition in May 2011, allowing Walmart to purchase 51% of Massmart's stock by June 2011.
The acquisition was met with an appeal from South African ministries and a local labor union, SACCAWU, but was ultimately dismissed by the appeals court in March 2012.
Walmart made an offer to acquire the remaining non-controlling shares of Massmart in August 2022, with a price of 62 rand ($3.65) per share. This represented a premium of 53% to the closing share price.
The deal was finalized and closed by the end of November 2022, making Massmart a wholly owned subsidiary of Walmart.
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Ownership
Massmart's ownership structure has undergone significant changes over the years. Walmart is the majority shareholder, holding 100% of the company's shares as of December 2022.
The company's largest shareholders as of December 2016 were Walmart, Aberdeen Asset Management, Public Investment Corporation, and others. However, by December 2022, Walmart's share had increased to 100%, while the other shareholders' stakes had dropped to 0%.
Here is a breakdown of Massmart's largest shareholders as of December 2016:
Frequently Asked Questions
How do I contact Massmart pension fund?
To contact Massmart pension fund, email [email protected] or call 0860 672 373. You can also reach out to your HR department or visit the MyMassmart portal for assistance.
How many employees does Massmart have?
Massmart has approximately 50,246 employees.
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