With all scheme conditions now met, Massmart and Walmart will proceed with implementation of the deal.

Although the champagne may have been poured by the deal advisors when the conditions precedent were met, the hard work for the operational teams will start now. Walmart needs to execute a successful turnaround of Massmart’s business and will be doing so away from the public markets.

Massmart shareholders will receive the scheme consideration on 21 November and the listing will be terminated on 22 November.

For a more detailed timetable, see the announcement below: