Shoprite A word to the Wiese
Seven years ago, you may recall, smaller Shoprite shareholders were bridling, if that’s the word, at a Brait-backed attempt by Big Daddy Christo Wiese to buy them out at R25.50 per share. He did in fairness up his offer to R28, but those same little fluttery bits of ephemera are now going for R167 each, and the shareholders who remain are no doubt doubly relieved that the bid failed. And Mr W himself, it must be said, hasn’t done too shabbily on the shares he holds as The Big Red One’s single largest investor, with a personal fortune in excess of $4billion, and SA’s wealthiest individual. And his takeover of Pepkor, whose value soared tenfold since he pulled it off in 2004 for R2.1billion, hasn't hurt none either.
Comment: A man so wealthy, in fact, that he forgets about the 600,000 quid he has squirrelled away in the Louis Vuitton for a rainy day…