October 16, 2013

Kenyan retailer Naivas reportedly will not sell a controlling interest in the company to Wal-Mart’s South African subsidiary Massmart.

August 13, 2013

Wal-Mart’s South African subsidiary Massmart Holdings Ltd reportedly seeks a 67% ownership stake in Kenyan retail chain Naivas Supermarkets Ltd.

August 12, 2013

Wal-Mart’s South African subsidiary Massmart Holdings Ltd. is reportedly considering expanding into Kenya.

October 24, 2011

Amid an uneven and slow recovery at home and financial volatility in established European markets, U.S. chain retailers are increasingly looking to emerging global markets to expand operations, increase overall revenues and gain a competitive advantage. The reasons are obvious: Consumer spending is on the rise in many of these areas, boosted by, in some instances for the first time ever, a growing middle class. Equally important, emerging markets present significant opportunities for store growth.

June 2, 2011

A report Thursday by the Associated Press said that Wal-Mart Stores executives met Thursday to discuss the proposed Massmart acquisition, which is expected to close in June.

January 17, 2011

The shareholders of South African Massmart chain have overwhelmingly accepted Wal-Mart's offer to buy 51% of their company, the chief executive said Monday, paving the way for Wal-Mart to enter Africa.

January 4, 2011

A Tuesday report by the Financial Times said that Andy Bond, former CEO of Asda, has left his post of part-time chairman of the United Kingdom’s second biggest supermarket by market share, a position that he has held for less than a year.

November 29, 2010

Bentonville, Ark. - Wal-Mart Stores announced Monday that it is buying a controlling stake in South Africa's Massmart in an approximately $2 billion deal. The investment gives the discounter a substantial presence in South Africa and paves the way for further expansion across the continent. Wal-Mart International president and CEO Doug McMillon made clear his company is pursuing a regional strategy.