Advertise with

PIC ups stake in Spar
PIC ups stake in Spar

PIC ups stake in Spar


Fin24 - Feb 3rd 2014, 08:03

Cape Town - The Spar Group [JSE:SPP] has announced in a statement that the Public Investment Corporation Limited (PIC) has strengthened its stake in the retailer.

"Spar shareholders are advised that the company has received notification that the PIC has acquired a beneficial interest in Spar securities," it said in a SENS reports.

It said that PIC now hold 20 086% of the total issued ordinary share capital of the company.

The PIC manages the pension funds of civil servant. It is the biggest money manager in Africa.From 

Related News

Exclusive leases must fall: Commission cracks whip on Shoprite, Pick n pay, Spar, Woolies
26/11/2019 - 09:57
The Competition Commission Inquiry into Grocery Retail, published on Monday, called for an end to the exclusive leases negotiated by national retail chains in all shopping malls across the country in a bid to open up access to markets for smaller players.

Spar sees big jump in profit as consumers turn to store labels and alcohol
13/11/2019 - 11:43
Listed retailer Spar has published its financial results for the full year ended September 2019, reporting an 8.4% jump in revenue, with operating profits up 7.2% despite tough conditions across its operations.

Consumers drink while retailers keep the tills active and lights on
10/09/2019 - 11:19
One in five South Africans is unemployed and economic growth remains anaemic, but retailers manage to grow, demonstrating that they still have some defensive qualities.

Retail stocks: Look out for the potholes and opportunities
26/08/2019 - 16:22
Retailers and wholesalers on the JSE have been clobbered since their respective 2018 financial results.

More grocery stores in malls on the cards
03/06/2019 - 16:08
The Competition Commission said that it wants Pick n Pay, Woolworths, Spar, and Shoprite to stop enforcing exclusivity clauses in shopping malls they do business to allow for more competition.