Pepkor join Shoprite stable? ‘Nothing is impossible’ says Christo Wiese
However, Shoprite Group CEO Pieter Engelbrecht says he does not see the grocer acquiring Pep
For a time, Steinhoff International seemed the chosen vehicle for billionaire investor Christo Wiese to consolidate all his retail investments in the country. The developments over the past three months have basically put paid to his plans and the last surviving pillar of his investments, Shoprite, may after all prove to be the vehicle. With Steinhoff's fall still unfolding and its long-term prospects unknown, some analysts are talking of the possibility of Wiese's most prized asset, Pepkor, eventually finding its home in the portfolio of Africa's biggest grocer, Shoprite. Steinhoff Africa Retail (STAR), which is majority owned by Steinhoff, owns Pepkor, but it is caught up in the web of scandals surrounding its parent company. Graeme Korner, a fund manager at Korner Perspective, said: "At the moment it's a case that all options are on the table. "So previously, where it was a case of STAR acquiring a majority stake in Shoprite, they [STAR] may now paradoxically be the target." Korn...
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