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Investor Wiese misses out as S Africa's Steinhoff and Shoprite scrap merger

Wednesday, February 22, 2017 - 05:50

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Mr Wiese, who is a shareholder in both Steinhoff and Shoprite, and other investors could not agree on the value of a share exchange. The deal's collapse will test the determination of Mr Wiese's - the architect of the deal - to place more and more of his assets in one basket.

Johannesburg

SOUTH Africa's Steinhoff and grocery retailer Shoprite called off a deal on Monday to create an African shopping giant, preventing leading investor Christo Wiese from bringing more of his retail assets under one roof.

Billionaire Mr Wiese, a shareholder in both

sentifi.com

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