| |
Newsroom /
Business
/
Business
/
Hilbroy Advisory: South Africa agrees $3b Wal-Mart deal
Hilbroy Advisory: South Africa agrees $3b Wal-Mart deal
Unions and government officials are worried the arrival of the world's biggest retailer will hurt jobs and local manufacturing.
Montreal,
Quebec,
Canada
(prbd.net)
03/06/2011
Montreal, Quebec, June 2, 2011– Hilbroy Advisory Inc. (DeutcheBörse: 2H0) Hilbroy Advisory Reports: Regulators approved Wal-Mart's 17 billion rand ($3 billion) bid to buy a controlling share of a South African chain in a ruling yesterday that followed a fierce debate over protectionism in the country with the continent's most promising economy.
Unions and government officials are worried the arrival of the world's biggest retailer will hurt jobs and local manufacturing.
In its ruling, the Competition Tribunal, the government agency charged with promoting competition and protecting consumers, said Wal-Mart and South African retailer Massmart could not lay off any workers for two years, must respect Massmart's existing labour agreements for three years and must invest in training South African suppliers.
Wal-Mart and Massmart had already agreed to take the steps regarding layoffs and union agreements.
They also pledged to spend ZAR100 million over the next three years to help farmers and other South African suppliers gear up to do business with Wal-Mart.
The Congress of South African Trade Unions, a key ally of the governing African National Congress, called the tribunal's approval "almost unconditional" and said its leaders will meet this month to plan a campaign of marches, demonstrations, pickets and stay-aways to try to keep Wal-Mart out.
About Hilbroy Advisory Inc.
Hilbroy Advisory Inc. is a Canadian based advisory and consultancy services company founded in 2000. Our Company provides publicly traded and private companies, institutions and individuals with a series of advisory services enabling these companies to fully reach their corporate objectives and potential.
Our specialists will customize a service package that includes reviewing, identifying and recommending a series of specific action and tasks that help their clients’ management decisions when seeking
• Go Public strategy,
• Debt and or equity financing
• Identify prospective investors
• Hire investor relations firm
• Cross listing decisions
• Planning road-shows and promotional campaigns.
Hilbroy Advisory has established numerous international relationships over the years with Broker Dealers, Hedge Funds, Institutional Investors, High net worth Investors as well as with investor relations firms and consultants. These relationships are made available to all Hilbroy clients and our team will manage the relationships from introduction to post financing activities.
Contact:
Jean François Amyot
HilbroyAdvisory, Inc.
1400 rue Begin
Montreal, QC H4R 1X1
info@hilbroyadvisory.com
www.hilbroyadvisory.com
Tel: 514-334-3131
Important Information About Forward-Looking Statements
All statements in this news release that are other than statements of historical facts are forward-looking statements, which contain our current expectations about our future results. Forward-looking statements involve numerous risks and uncertainties. We have attempted to identify any forward-looking statements by using words such as "anticipates", "believes", "could", "expects", "intends", "may", "should" and other similar expressions. Although we believe that the expectations reflected in all of our forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct.
A number of factors may affect our future results and may cause those results to differ materially from those indicated in any forward-looking statements made by us or on our behalf. Such factors include our limited operating history; our need for significant capital to finance internal growth as well as strategic acquisitions; our ability to attract and retain key employees and strategic partners; our ability to achieve and maintain profitability; fluctuations in the trading price and volume of our stock; competition from other providers of similar products and services; and other unanticipated future events and conditions.
About
Hilbroy Advisory Inc. is a Canadian based advisory and consultancy services company founded in 2000. Our Company provides publicly traded and private companies, institutions and individuals with a series of advisory services enabling these companies to fully reach their corporate objectives and potential.
|