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Pepkor strikes deal to sell Timbercity owner for more than R1bn - again

Summary by Ground News
Pepkor will sell hardware chain The Building Company (TBCo), which owns Timbercity and Tiletoria. Analysts welcomed the news, pointing out how the DIY segment of the South African market was struggling amid a sputtering economy. TBCo will be sold to a private equity group and some of that subsidiary's managers for R1.2 billion.

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News24 broke the news in South Africa on Thursday, February 29, 2024.
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