Ibex Offers $1.5 Billion Stake in South African Retailer Pepkor

Ibex, formerly Steinhoff, sells entire Pepkor stake for $1.5bn

The company is working to lower a mountain of debt.

Ibex Offers $1.5 Billion Stake in South African Retailer Pepkor

Subsidiaries of Ibex Topco B.V. are offering a 28% stake in Johannesburg-listed Pepkor Holdings Ltd, according to terms seen by Bloomberg.

South Africa: Ibex sells 28% stake in Pepkor Holdings

Demand for the shares exceeded the stock being offered within minutes of the transaction launching, the terms show

Ibex exits Wiese-backed Pepkor in $1.6 billion deal

Key PointsIbex sold its final 30.2% stake in Pepkor via an accelerated book-build valued at R28 billion ($1.6 billion).The exit marks the last major divestment of Steinhoff’s former assets following a multibillion-euro accounting scandal.Christo Wiese, once Steinhoff’s top shareholder, faces a turning point as Ibex closes ties to Pepkor’s retail empire.Ibex Investment Holdings, formerly Steinhoff International, is offloading its remaining stake …

Ibex, formerly Steinhoff, sells entire stake in Pepkor for $1.5bn

Ibex Investment Holdings has reportedly sold its entire 28% stake in South African clothing retailer Pepkor Holdings.The post Ibex, formerly Steinhoff, sells entire stake in Pepkor for $1.5bn appeared first on Retail Insight Network.