Steinhoff-Shoprite merger talks collapse as sides fail to agree on terms (Infographic)

Steinhoff-Shoprite merger talks collapse as sides fail to agree on terms

Steinhoff International Holdings NV and Shoprite Holdings Ltd. ended talks to create Africa’s biggest retailer after negotiations with shareholders including billionaire Christo Wiese broke down over terms.

Wiese, who is the biggest investor in both companies, South Africa’s Public Investment Corp. and Steinhoff were unable to reach agreement on the share-exchange ratio that would have been applied to the proposed deal, the retailers said in a joint statement on Monday.

The plan to combine the continent’s biggest grocer with Steinhoff’s African brands including clothing chain Pep had left some investors complaining about its complexity when it was first announced in December, sending shares of both retailers tumbling.

Read more: Steinhoff’s Shoprite Talks Collapse as Sides Fail to Agree Terms – Bloomberg

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