{"id":11443,"date":"2011-05-31T00:00:00","date_gmt":"2011-05-31T00:00:00","guid":{"rendered":"https:\/\/www.capitalfm.co.ke\/?p=11443"},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-29T21:00:00","slug":"south-africa-approves-wal-mart-takeover-of-local-chain","status":"publish","type":"post","link":"https:\/\/www.capitalfm.co.ke\/business\/2011\/05\/south-africa-approves-wal-mart-takeover-of-local-chain\/","title":{"rendered":"South Africa approves Wal Mart takeover of local chain"},"content":{"rendered":"<p><strong>JOHANNESBURG, May 31 &#8211; South Africa\\&#8217;s anti-trust tribunal on Tuesday approved Wal-Mart\\&#8217;s bid for a 51 percent stake in local firm Massmart, on condition the US retail giant not lay off any workers for two years.<\/strong><\/p>\n<p>&quot;We have decided to approve the merger subject to the undertakings made by the parties becoming conditions for the approval,&quot; the tribunal said in a statement.<\/p>\n<p>&quot;The merged entity must ensure that there are no retrenchments, based on the merged entity\\&#8217;s operational requirements in South Africa, resulting from the merger for a period of two years.&quot;<\/p>\n<p>In January, Wal-Mart signed a $2.5-billion (1.87-billion-euro) offer for a controlling stake in Massmart, which runs nine wholesale and retail chains with 288 stores in 14 African countries.<\/p>\n<p>The deal raised concerns from South Africa\\&#8217;s politically powerful unions over labour practices at the world\\&#8217;s largest retailer.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>JOHANNESBURG, May 31 &#8211; South Africa\\&#8217;s anti-trust tribunal on Tuesday approved Wal-Mart\\&#8217;s bid for a 51 percent stake in local firm Massmart, on condition the US retail giant not lay off any workers for two years. &quot;We have decided to approve the merger subject to the undertakings made by the parties becoming conditions for the [&hellip;]<\/p>\n","protected":false},"author":12319,"featured_media":11444,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"coauthors":[],"class_list":["post-11443","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-world"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v25.7.1 (Yoast SEO v25.7) - 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