Steinhoff’s R63bn acquisition of Pepkor today ranks as the biggest transaction in South African corporate history. But for CEO Markus Jooste it is just the start of a exciting new international chapter for what will be a R200bn group.
At a meeting in London this week, insiders explained how Glencore’s takeover of Rio Tinto is simply a matter of time. With that deal Glasenberg would create a giant even bigger than Australia’s BHP Billiton.
Financial markets have been subject to an abrupt increase in volatility in recent weeks with risky assets having been sold off sharply as global equities declined by over 6% in the first half of October before bouncing.