Investing.com - Financial Markets Worldwide

Ibex sells $1.5 billion stake in Pepkor as restructuring continues

Published 22/07/2025, 09:00
© Reuters.
PPHJ
-0.62%

Investing.com -- Ibex Investment Holdings Ltd., the company formerly known as Steinhoff International, has sold its stake in Pepkor Holdings Ltd. for 26.6 billion rand ($1.5 billion).

The sale involved 1.045 billion shares of Pepkor, Africa’s largest clothing retailer, at a price that represented a discount of approximately 6% compared to Pepkor’s last closing price.

Goldman Sachs Group Inc (NYSE:GS)., JPMorgan Chase & Co. (NYSE:JPM) and Investec (LON:INVP) Plc managed the transaction, according to terms reviewed by Bloomberg.

The divestment is part of Ibex’s ongoing restructuring efforts following the collapse of Steinhoff in late 2017, when auditors refused to sign off on the company’s financial statements, according to the report.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2025 - Fusion Media Limited. All Rights Reserved.