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Walmart

United States retail group that entered South Africa through a 51% Massmart acquisition in 2011 and completed full ownership in 2022.

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Walmart is a global retail company. It entered South Africa by acquiring 51% of Massmart in 2011. [1]

History

The Competition Tribunal approved the Walmart and Massmart large merger subject to conditions on 31 May 2011. [2]

Walmart proposed buying the shares it did not already own in August 2022. The completed scheme led to Massmart’s JSE delisting. [3][4]

Frequently asked questions

When did Walmart enter South Africa?

Walmart entered through its 51% acquisition of Massmart in 2011. [1]

When did Walmart fully acquire Massmart?

The scheme for remaining outside shares became unconditional in November 2022. [4]

Did Walmart own all Massmart shares in 2011?

No. The 2011 acquisition was 51%, which gave control but left a minority interest outside Walmart. [1]

Key milestones

  1. Walmart acquired 51% of Massmart and obtained majority control. [1]

  2. Walmart announced a proposed R62-per-share offer for outstanding Massmart shares. [3]

  3. The scheme became unconditional and the Massmart listing ended. [4]

Related articles

Related institutions

  • Massmart — South African retail and wholesale group built from Makro, listed in 2000 and fully acquired by Walmart through a 2022 scheme.
  • Makro South Africa — South African big-box warehouse format that supplied Massmart’s six-store founding base and remains one of the group’s trading brands.
  • Game South Africa — Discount retail chain acquired by Massmart in 1998 and retained as a trading format within the Walmart-owned group.

Sources

  1. Walmart, Walmart history. Original source. Accessed 2026-10-23. ↩
  2. Competition Tribunal of South Africa, Wal-Mart Stores Inc and Massmart Holdings Limited, 2011-05-31. Original source. Accessed 2026-10-23. ↩
  3. Walmart, Reviewed Massmart interim results and business update, 2022-08-29. Original source. Accessed 2026-10-23. ↩
  4. Massmart and Walmart, Finalisation announcement for the scheme of arrangement, 2022-11-04. Original source. Accessed 2026-10-23. ↩