Shoprite Checkers (Pty) Ltd. agreed to acquire Certain non-core Assets of Massmart from Massmart Holdings Limited (JSE:MSM) for ZAR 1.4 billion on August 20, 2021. The transaction is subject to the relevant regulatory approvals, will see ownership of Cambridge Food, Rhino and Massfresh (comprising The Fruitspot and a meat processing facility), as well as 12 Cash & Carry stores transferred to Shoprite Checkers. Transaction will close early in the first quarter of 2022. Financial proceeds will be used to pay down drawn bank facilities, invest in eCommerce and also in merchandise areas.