Pep owner Pepkor employs about 47,000 people across 10 African countries. Picture: ALAISTER RUSSELL
Pepkor’s expanding into South America and has bought an 87% stake in Brazilian merchant Grupo Avenida. The retailer did not put a price on the acquisition, but has shared that it was less than 4% of the group’s market value, or less than R3.2bn.
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Pepkor makes retail investment in Brazil in what experts call a good strategic moveWhile the value of the deal was not disclosed, Pepkor said the acquisition of the group was less than 4% of its market capitalisation, which on Thursday was about R80bn.
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