Those who have problems with Ramaphosa are rubbing their hands in glee at what they see as reinforcement that he is captured by those who funded his campaign, writes Chris Vick.
Old Mutual's private equity arm is backing a plan by Footgear to buy a unit of Edcon in southern Africa to create one of the region’s largest sports and casual wear businesses.
Ousted PIC chief Dan Matjila is expected to say his opposition to funding the rescue of clothing retailer Edcon ahead of national elections was one of the reasons he was dismissed.
The Public Investment Corporation said its decision to invest in retailer Edcon is based on sound commercial, social and governance principles.
The Constitutional Court has dismissed an appeal by 1 818 retrenched employees of retailer Edcon.
Edcon has raised R2.7bn from lenders, landlords and the Public Investment Corp as the clothing retailer wraps up its latest restructuring plan.
The Public Investment Corp, Africa’s largest fund manager, may provide R1.8bn to assist the company, says the people, who asked not to be identified as the information isn’t yet public.
Saftu is supporting unions in preparation for a national shutdown in March next year, as well as a radical workers party which will contest power at the elections.
Edcon group CEO Grant Pattison said these discussions are in the final stages of resolution and "significant progress is being made, with all stakeholders indicating their support and strong commitment to the process".
Edcon Holdings is planning to close chains including Red Square cosmetics and La Senza lingerie as part of a recovery plan to lure their customers to its flagship Edgars clothing stores.
Edcon CEO Grant Pattison says talks between owners and lenders to refinance about €200m of debt signals the final step in a recovery plan.
Ex-PIC head Dan Matjila has said part of the reason he was removed was so that a deal to save Edcon could be finalised before the national elections.
The former head of the PIC says he was removed from his job so politically connected people could influence the fund's investment decisions.
Labour union federation Cosatu signaled a "massive fight" with the ANC if state-owned fund manager the Public Investment Corporation failed to rescue the country’s second-largest clothing retailer, Edcon Holdings.
The Competition Tribunal has approved, subject to certain conditions, the state-owned IDC's acquisition of Celrose - of which Edcon is a majority shareholder.
The recapitalisation process of the country’s largest clothing retailer, Edcon, is moving forward at a normal pace, says CEO Grant Pattison.
The restructuring and recapitalisation of Edcon, which includes Edgars, Jet and CNA, has passed its next hurdle, says CEO Grant Pattison.
Edgars lost its golden thread and it's going to need a Midas touch to bring it back, says Ferial Haffajee.
The Sunday Times reported that the major retailer will close stores if an offer to landlords is rejected, which could wipe out 140,000 jobs in total.
Edcon has revealed its growth strategy for each of its retailers and says it does not plan to list on the JSE.
Edcon’s Zimbabwe-based clothing retailer Edgars says prevailing foreign currency shortages will impact its product range, particularly in the fourth quarter.
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