Shoprite, linked to South African billionaire Christo Wiese, to sell furniture unit to Pepkor for $179 million
The sale includes the OK Furniture and House & Home brands, as well as Shoprite's credit loan book, insurance arrangements, inventory, and certain fixed assets.
Related
South African billionaire Christo Wiese-backed Shoprite rewards investors with $91.5 million payout
The payout reflects the company’s commitment to rewarding shareholders while navigating economic pressures.
Christo Wiese's Shoprite reports $348-million profit in 2024
Shoprite Holdings reports robust 2024 financial performance amidst economic challenges.
Latest
Trevor Noah backs Stitch's latest $55 million funding round
Noah’s involvement as an angel investor is a testament to the growing overlap between Africa’s creative talent and the global tech investment scene.
Michiel le Roux gains nearly $300 million from Capitec stake
This follows a recent rally in the share price of the retail banking giant on the Johannesburg Stock Exchange (JSE).
Aliko Dangote scales up $10 million food relief effort in Nigeria
The program is aimed at helping low-income families cope with the harsh economic climate and rising cost of living.
JP Morgan takes new shares worth $288 million in Bernard Berson-led Bidcorp
It reflects the bank’s growing confidence in the Johannesburg-based food service group, which is led by Bernard Berson.