Twenty-two years on the Johannesburg Stock Exchange (JSE) is a good run but that is also where the road ends for Massmart as the group will be delisting on 22 November.
Massmart’s delisting follows a R6.4 billion offer from Walmart, its parent company, for the 47% stake it does not already own.
Founded in 1990, Massmart has been a prominent feature in the South African retail space and so a world where it is fully under Walmart is unfathomable.
But, away from the public eye, experts and Massmart themselves said delisting from the JSE would allow the group to recalibrate and put into effect its turnaround strategy.
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Anathi Madubela
Anathi Madubela is a business journalist with a keen interest in the retail sector.
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