Investor Wiese misses out as S Africa's Steinhoff and Shoprite scrap merger
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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 companies and the architect of the deal, and other investors including state-owned pension fund the Public Investment Corporation (PIC) could not agree on the value of a share exchange.
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