Steinhoff African unit to buy Shoprite controlling stake


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

This site uses Akismet to reduce spam. Learn how your comment data is processed.