Wal Mart Targets Africa with Massmart Offer

US based consumer chain Wal-Mart recently announced a cash offer of ~$2BN for 51% of South African retail company Massmart Holdings, highlighting its interest in expansion into Africa. An article in Fortune notes that Wal-Mart is seeking fresh growth opportunities abroad as US growth slows, with Wal-Mart International already contributing a (rapidly expanding) 25% to the company's total revenue.