By  on November 29, 2010

PARIS — Wal-Mart Stores Inc. has acquired 51 percent of Johannesburg-based retailer Massmart Holdings Ltd for 17 billion South African rand, or $2.36 billion at current exchange rates, the two companies announced.

The world’s largest retailer paid 148 rand, or $20.55, per share, in line with a preliminary and nonbinding proposal made in September.

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