Supermarket giant embarks on recapitalisation and boxer listing to stabilize finances and increase market share.
Christo Wiese
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- Southern Africa
Pick ‘n Pay, partly owned by South African Ackerman family, grants summers $5.4-million incentive
Summer receives share-based incentives tied to leadership, succession planning, and financial performance as part of Pick ‘n Pay’s turnaround strategy.
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South African billionaire Christo Wiese faces potential personal liability for helping a company allegedly dodge a $52 million tax bill.
- Southern Africa
South African Christo Wieseās Brait slashes investment manager fee to $3.3 million
Brait SE takes steps to manage costs and stabilize its financial position.
- Hot News
South African billionaire Christo Wieseās Shoprite launches online shopping and delivery service
Shoprite embraces e-commerce to aid small businesses, launches digital platform for Cash & Carry stores
- Hot News
Christo Wieseās Invicta achieves $448-million revenue for final year 2024 despite rising costs
Revenue climbs 6.6 percent, but higher costs squeeze profit margins as Invicta looks to future growth.
- Southern Africa
South African billionaire Christo Wiese’s Brait to dissolve portfolio in three years
“Thereās a journey to realise value from the three assets that remain,” says CEO Peter Hayward-Butt.
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The plan strengthens Brait’s balance sheet, boosting Virgin Active and Premier’s performance, and increasing investor confidence.
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Earlier this year, Wiese’s stake had fallen below $900 million, but it has now rebounded above the $1 billion mark
- Hot News
South African billionaire Christo Wieseās Brait unveils multimillion-dollar recapitalization plan
The recent move detailed a comprehensive recapitalization initiative designed to reduce the groupās net debt by $123 million, from $323 million to …