South Africa: Pharmaceutical group Dis-Chem bids $23mln for Baby City
Tuesday, 19 May 2020 15:25
South Africa’s pharmaceutical group Dis-Chem announced it has entered in talks to buy the baby care product retailer Baby City. The group, co-founded in 1978 by Ivan and Lynette Saltzman, proposes to pay R430 million ($23.2 million) for the acquisition.
The transaction includes a loan to Baby City's shareholders and a guarantee to ensure the company's liquidity in a context marked by the spread of the covid-19 pandemic. The closing of the transaction is subject to the approval of the South African Competition Authority and is expected to take place by the end of October 2020.
At the end of this process, the 33 stores operated by Baby City will be integrated into Dis-Chem's supply chain. Michel Aronoff will retain his position as Baby City's Chief Executive Officer. The company he manages achieved a turnover of R855 million in the financial year ending February 2020.
Chamberline Moko
Live News
-
Guinea-focused Asara Resources adds Matthew Sharples to board
20:54
-
Africa Drives Global Air Freight Growth in March Despite Sharply Slower Expansion
20:37
-
Cameroon taps youth input for new migration policy at Yaoundé forum
20:26
-
ECOWAS ministers endorse draft legal framework to tackle maritime crime
20:03
-
Togo employers, unions sign new interprofessional collective agreement
20:00
-
South Sudan Declines to Renew Oranto’s B3 License After Senegal Precedent
19:12
-
Record Tungsten Prices Put Rwanda Ahead of DRC and on U.S. Supply Radar
18:55
-
Yaoundé Dialogue Reframes Migration as Economic System, Puts Youth at the Centre
19:12
-
Togo plans tighter checks, digital tools to tackle uninsured vehicles
06:02
-
Spiro Partners Yango Operator to Roll Out Electric Motorbikes in Douala
05:56
Mediterrania Capital bought Australian Amcor's Moroccan packaging unit Enko Capital took ov...
Standard Chartered arranges $2.33 billion for Tanzania railway project Funding support...
Central bank to release $1 billion in cash to curb black market demand Move aims to ease inf...
Jetour to produce T1, T2 SUVs in South Africa from 2027 Chery to acquire Rosslyn plant, cre...
Ecobank named alongside AfDB, ECOWAS, EBID and BOAD in the April 27, 2026 corridor financing mis...
Matthew Sharples, who has served as Asara Resources’ managing director for over a year, had not until now been directly involved in board deliberations....
Africa air freight volumes rise 7% in March 2026 Growth slows after strong January-February surge, key routes decelerate Global cargo declines amid...
South Sudan declines to renew Oranto’s oil block B3 contract Audit cites failure on seismic surveys and drilling commitments Block reopened to...
Tungsten prices surpass $3,000/tonne amid supply disruptions, China curbs Rwanda, DRC gain opportunities; Rwanda leads with higher output US...
UK museum to return 45 Botswana artifacts after 150 years Items collected in 1890s; restitution follows Botswana request Return tied to...
The history of Kerma stretches back several millennia. Located in what is now northern Sudan, the site was inhabited as early as prehistoric times....