ACKERMAN FAMILY CEDES CONTROLLING STAKE IN SA RETAILER PICK N PAY
https://s.yimg.com/ny/api/res/1.2/8d9CzvRYwUY_0VGFi5Dk6g--/YXBwaWQ9aGlnaGxhbmRlcjt3PTEyMDA7aD02NzU-/https://media.zenfs.com/en/retail_insight_network_724/639f57cc85c6ff0259e2015c40192d4d
✍️ The Ackerman family, founders of South African supermarket chain Pick n Pay, has reduced its holding by selling 64 million shares, generating R1.6bn in proceeds.
👉 The Ackerman family sold 64 million shares of Pick n Pay, generating R1.6bn in proceeds. 👉 The sale represents 8.5% of the company's issued ordinary share capital. 👉 The family's voting interest in Pick n Pay will decrease from 49% to 36.8%. 👉 The family will no longer hold majority control but will remain the retailer's anchor shareholder.
-- #SeanSummers #SouthAfrica #Johannesburg #business
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