Monday, 18 May 2015

Shoprite's owner backed firm buys into UK's New Look for £780m

Brait, an investment vehicle backed by Christo Wiese owner of Shoprite is acquiring 90% holding in United Kingdom high street fashion retailer New Look for a whooping £780m.
This is following Brait's recent interest to acquire 80% of Virgin Active gym owned by Richard Branson for £680m.
Christo Wiese is a 73-year-old South African billionaire with £4.4bn networth.

By this development, New Look footprint might soon be in Nigeria. In event of that, remember you heard it here first.

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