Massmart Holdings Limited (Massmart) is a South African-based regional management company, invested in a portfolio of differentiated, complementary, focused wholesale and retail formats. Massmart is a managed portfolio of nine wholesale and retail chains, each focused on distribution of mainly branded consumer goods for cash, in 14 countries in sub-Saharan Africa through four divisions comprising 256 stores. The Company is a distributor of consumer goods in Africa, a retailer of general merchandise, liquor and home improvement equipment and supplies, and a wholesaler of basic foods. The Company operates in four segments: Massdiscounters, Masswarehouse, Massbuild and Masscash. The Massdiscounters segment operates as a general merchandise discounter. The Masswarehouse segment operates a warehouse club. The Massbuild segment operates as a home improvement retailer and building materials supplier. The Masscash segment operates as a food wholesaler and buying association.
Nov.2010: Joint announcement of a firm intention by Walmart to make an offer to acquire 51% of the ordinary share capital of Massmart on the basis set out in this announcement and withdrawal of cautionary announcement
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Chinese fishing firm fined for tuna fishing illegally New Zealand
Chinese authorities have deregistered and fined a Chinese commercial fishing company approximately USD 596,000 for misreporting bluefin tuna catches and fishing without a licence adjacent to the New Zealand Exclusive Economic Zone.