South Africa's Truworths in talks about $462M bid for British footwear retailer Office

South African fashion retailer Truworths International said on Monday it was in talks with privately owned shoe chain Office about acquiring the British company.

Though the South African retailer has clothing stores in Ghana, Nigeria and Botswana, it makes the bulk of its profits and sales in its home market where consumer purchasing power is being reined in by rapidly increasing energy costs and rising interest rates.

Office, a footwear retailer with 150 stores, would be Truworths’ first foray into Europe.

Read more: UPDATE 1-S.Africa’s Truworths in talks about bid for British footwear retailer Office | News by Country | Reuters

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