Supreme court validates Pepkor’s right to sell Tekkie Town
Earlier preservation order for footwear retailer while other cases wind their way through the courts is overturned
26 October 2020 - 19:22
Pepkor Holdings, the JSE-listed subsidiary of Steinhoff International, has won its appeal in the supreme court validating its right to dispose of discount footwear chain Tekkie Town, which it acquired from Steinhoff in 2017.
The judgment handed down by the Supreme Court of Appeal last Wednesday overturns an earlier decision made in the Western Cape High Court in April 2019, which prevented Steinhoff from selling shares in Pepkor in any way that would result in a loss of control of the company...
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