Walmart Takes Massmart Private to Revive S. African Business (1)

Walmart Inc. plans to take Massmart Holdings Ltd. private and will promote the unit’s chief operating officer to head of the company as it prepares to renew its focus on South Africa.

The global retail giant plans to buy all of the shares it doesn’t already own of Massmart for 62 rand ($3.65) apiece, a 53% premium to the last closing price, and delist the company from Johannesburg’s main bourse. Jonathan Molapo, who joined Massmart in January as COO will take over as chief executive officer a year after he joined the company. He replaces Walmart veteran Mitchell Slape ...