Joint Detailed Cautionary Announcement Relating To The Establishment Of An African Retail Champion

Joint Detailed Cautionary Announcement Relating To The Establishment Of An African Retail Champion

| Shoprite Holdings Limited | Joint Detailed Cautionary Announcement Relating To The Establishment Of An African Retail Champion

 

Shareholders of Steinhoff and Shoprite are hereby advised that the largest shareholders of both
companies, namely the Public Investment Corporation SOC Limited (“PIC”) and Titan Premier
Investments Proprietary Limited (“Titan”) (a company ultimately controlled by a family trust of Dr.
Christo Wiese) have initiated and facilitated discussions between the Steinhoff and Shoprite board of
directors regarding the potential combination of their respective African retail businesses, with the
objective of establishing a diversified African retail business of significant scale and international
geographical reach that could be regarded as the retail champion of Africa (“Retail Africa”)
(“Proposed Transaction”).
The vision to create Retail Africa, which will be a formidable entity, having its roots firmly entrenched
in Africa, is shared by both the PIC and Titan. Accordingly, both shareholders have indicated that
they are fully supportive of an initiative which could lead to the creation of Retail Africa.

  • December 14, 2016 Create Date
  • 270.71 KB File Size
  • Expiry Date