How big will retail tycoon and serial risk-taker Christo Wiese bet on Steinhoff International? As colleague Stafford Thomas’s cover story notes, Wiese is a significant shareholder in Steinhoff. But he may become an even bigger participant if pan-African supermarket giant Shoprite is reversed into the Steinhoff mix. And what will become of the retail element in Brait — where Wiese also holds sway? Could First Look eventually also be ushered towards Steinhoff? It’s rather strange to think Wiese’s participation in Steinhoff had its roots in unlisted liquor company KWV. Readers might remember that more than a decade ago Wiese swapped his significant minority stake in KWV for PSG Group shares … and then swapped out his PSG shares for Steinhoff paper a few years later. (Steinhoff holds 20% of PSG.) Investors probably won’t bet against Wiese and Steinhoff’s Markus Jooste building a retail-based conglomerate that would rank among the biggest (and most profitable) in the world.
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