Steinhoff African unit to buy Shoprite controlling stake

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JOHANNESBURG (Reuters) – Steinhoff International’s African spin-off plans to acquire a controlling interest in South African retailer Shoprite, it said on Friday.

Steinhoff has entered into call option agreements with Titan Premier Investments, a company ultimately controlled by a family trust of Steinhoff and Shoprite chairman Christo Wiese, as well as the Public Investment Corporation and Lancaster Group, Steinhoff said in a statement.

Reporting by TJ Strydom; Editing by Tiisetso Motsoeneng

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