Whitey Basson’s R1.7bn share sale gets thumbs up from Shoprite shareholders
Shoprite Holdings shareholders voted in favour of the purchase of about R1.75bn ($135m) of shares from former Chief Executive Officer Whitey Basson.
Shoprite Holdings shareholders voted in favour of the purchase of about R1.75bn ($135m) of shares from former Chief Executive Officer Whitey Basson.
Steinhoff Africa Retail is seeking to raise as much as R18.4bn ($1.4bn) in a sale of stock this month, the largest by a South African company in almost two years.
Making changes to the Biznews Global Share Portfolio is a bit of an event for us. And as you’ll see in this month’s update, we’ve done just that.
Steinhoff International Holdings rejected allegations of dishonesty made in a Manager-Magazin report that CEO Markus Jooste is being investigated.
Shoprite defied market conditions as it reported a 12 percent increase in full year headline earnings per share to R10.07.
The Biznews SA Champions portfolio is up 5 percent year to date inclusive of costs, lagging the JSE Top 40 which is up 11% exclusive costs.
South African global champion Steinhoff International is being overlooked by investors. That offers a great opportunity to those who seek a long-term bet. Here’s why.
The Biznews SA Champions portfolio comprises of eight companies founded locally but making waves overseas.
Markus Jooste’s decentralised, supportive approach gives him a better than average change of success in the United States.
When merger negotiations were called off, the prices of both Shoprite and Steinhoff rallied, reflecting Mr Market’s relief that the deal won’t happen.