“FOR NOW, I AM GOING TO SIT BACK AND CONSIDER WHAT A PILE OF CASH LOOKS LIKE.”
− Whitey Basson, former CEO of Shoprite, jokes in an interview with Netwerk24 about his sale of 8.7m shares for R1.8bn back to the company. He held 9.1m shares in Shoprite at the end of June 2016. Basson said he wants to diversify his holdings, and has “no intentions to buy a huge yacht, get a second wife or take [his] money out of the country”. He sold at R211.01 a share, the highest level at which the share has traded in five years, Business Day reported. Shoprite said the transaction will increase its interest charges by about R144m a year.