By
Reuters
Reuters
Published
Nov 25, 2014
Nov 25, 2014
South Africa's Steinhoff to buy Pepkor stake in $5.7 bln deal
By
Reuters
Reuters
Published
Nov 25, 2014
Nov 25, 2014
JOHANNESBURG, South Africa - South African furniture retailer Steinhoff International will acquire a 92 percent stake in clothing retailer Pepkor in a 62.8 billion rand ($5.7 billion) deal that will give it exposure to the fast-growing apparel market.
Founded in 1965, Pepkor has retail chains operating in 16 countries across three continents, including in eastern Europe and Australia.
1 US dollar = 11.0235 South African rand
1 GBP = 17.3252 South African rand
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