Pepkor Holdings Limited (JSE:PPH) entered into an agreement to acquire Furniture Business of Shoprite Holdings Ltd. from Shoprite Holdings Ltd (JSE:SHP) on September 2, 2024. The purchase consideration represents c. 4% of Pepkor?s market capitalisation and will be settled in cash. The conclusion of the Proposed Transaction is subject to the fulfilment of both regulatory and commercial suspensive conditions.

The Standard Bank of South Africa Limited acted as financial advisor for Pepkor Holdings Limited. Webber Wentzel acted as legal advisor for Pepkor Holdings Limited. Bowmans acted as legal advisor for Pepkor Holdings Limited.