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Wal-Mart one step closer to buying South Africa’s Massmart
New York City -- South Africa’s competition watchdog has recommended that Wal-Mart Stores’ proposed takeover of the country’s retail chain Massmart be unconditionally approved without conditions.
Wal-Mart made a $2.4 billion bid for Massmart in November, and a vast majority of the target company’s shareholders voted to approve the deal last month.
The deal now needs final approval from South Africa’s competition tribunal. A date for the hearing and subsequent ruling has yet to be set.
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New retailers to open at Shoppes at Boca Greens
Boca Raton, Fla. -- West Palm Beach, Fla.-based American Commercial Realty Corp. said it has completed several new leases at the Shoppes at Boca Greens in Boca Raton, Fla.
Cosmetics and beauty retailer Harmon Face Values, a division of Bed Bath & Beyond, will open a new, 7,400-sq.-ft. store, the retailer’s first full store in Florida.
Children’s clothing retailer Denny’s Children’s Wear will relocate and expand to an 8,600-sq.-ft. location within the center.