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Retail giant Walmart Stores will offer South African management company Massmart Holdings $4.2 billion in cash for its wholesale and retail portfolio.
The deal is subject to due diligence and a period of reciprocal exclusivity granted by Massmart and Walmart.
Rothschild is acting as Walmart's financial advisor and Webber Wentzel as its legal counsel.
Massmart is considered to be one of the largest distributors of consumer products as well as the leading retailer of general merchandise, home improvement equipment and supplies on the...