Nick Wilson
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Photo: Timbercity
Pepkor will sell hardware chain The Building Company (TBCo), which owns Timbercity and Tiletoria – to a private equity group and some of that subsidiary’s managers for R1.2 billion in a move to reduce debt and streamline its portfolio.
Analysts welcomed the news, pointing out how the DIY segment of the South African market was struggling amid a sputtering economy.
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