Pepkor meets Steinhoff terms

Retailer Pepkor, formerly Steinhoff Africa Retail, says the conditions for the R1.05-billion purchase of properties from subsidiaries of its largest shareholder, Steinhoff International, have been met. According to Business Day, Pepkor’s subsidiaries would acquire properties and leases, which would be settled through the issuance of 70-million Pepkor shares. This represents about

1.91% of its share capital before the issuance.