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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.
Shoprite Holdings reports robust 2024 financial performance amidst economic challenges.
With his Shoprite stake now reapproaching the $1-billion mark, Wiese remains a billionaire, with his net worth likely exceeding $1.2 billion.
Wiese holds a 10.67-percent stake in Shoprite, equivalent to 63,110,920 shares valued at over $850 million.
Wiese’s holdings in Shoprite amount to an 11.58-percent stake, valued at more than $920 million.
Wiese owns an 11.5-percent stake in the leading supermarket chain, or 68,083,200 ordinary shares.
Despite recent setbacks, Wiese remains a leading figure in the African business scene.
Wiese owns an 11.58-percent stake in Shoprite, valued at more than $900 million.
Since assuming the mantle of CEO in January 2017, Engelbrecht has led Shoprite to impressive financial milestones.
De Bruyn’s 2022 compensation package comprises a secure base pay of $323,500 and a performance-based short-term incentive of $260,000.
Their prowess has not only caught the attention of Western retailers seeking new avenues for growth but has also steered the course of Africa’s retail evolution.
Wiese’s 11.63-percent stake in Shoprite is worth $952 million, cementing his position as one of the leading investors on the Johannesburg Stock Exchange.
Maseko’s appointment to the Shoprite Holdings board solidifies his position as one of South Africa’s leading business leaders.