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Wal-Mart’s Africa Ambitions May Spark S. African Takeover Spree

Bidvest Group Ltd. and Northam Platinum Ltd. are among at least 10 South African companies that could be acquisition targets for foreign bidders seeking growth opportunities in the wake of $15 billion worth of deals announced since July by Wal-Mart Stores Inc., HSBC Holdings Plc and Nippon Telegraph & Telephone Corp.

“Wal-Mart’s offer is going to spark other interest,” David Shapiro, head of Sasfin Holdings Ltd.’s securities unit, said in a telephone interview from Johannesburg. “Any deal is possible.”