Coronation takes commanding stake in Dis-Chem
The retailer’s founder sells R1.4bn worth of shares to the money manager just a week after selling property worth R500m to the group
Money manager Coronation has taken a commanding position in Dis-Chem after the retailer’s founders sold shares worth R1.4bn to the asset manager.
Dis-Chem said Coronation now owns nearly 30% of the group’s stock after the transaction. The Cape Town-based asset manager held 24.3% of Dis-Chem before the deal. ..
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