Wal-Mart’s Planning a 51% Takeover of Massmart
On Tuesday, the Rebosis Property Fund credited to become the first black managed and black ruled property fund to add on the JSE. The Chief Executive Officer for the firm, Sisa Ngebulana, had expressed his enthusiasm towards its launch and said that the organization is immensely proud for its debut on the JSE while greeted all the share holders whole heartily.
Mr. Ngebulana claimed that the access to the capital marked had permitted the organization to selectively assess opportunities in addition to our high quality office and retail portfolio with a confidence in the focused post listing which is expected to support the portfolio and to deliver high class share holder returns.
Simultaneously, the week had witnessed arguments that Wal-Mart’s planned a 51% takeover of Massmart, soon after government intervention delayed the takeover process. Although, according to some policymakers and economists, it is comparatively simple for the overseas companies to make investments.
The Director of the Department of Trade and Industry, Lionel October had denied the role of government to make the investments difficult. "What we want unashamedly to do is help domestic production. Whether you're local or foreign doesn't matter. The only condition we want is that Massmart will continue the practice of using SA suppliers and not shift elsewhere”, he added further.
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