Actis Agrees to Exit South Africa-based Shoe Retailer Tekkie Town (Sub-Saharan Africa)
Posted On: 11 Sep 2016 | Source: Africa Capital Digest
Growth markets investor Actis has reportedly agreed to exit its 42.5 percent stake in South Africa-based shoe retailer Tekkie Town in a sale to South Africa-based holding company Steinhoff International. Actis originally acquired the stake in November 2014 for US$65 million. The investment is subject to approval by South Africa’s Competition Commission and is expected to close by the end of 2016. Financial details of the transaction were not disclosed.