Ackerman family to give up control of Pick n Pay
The retailer announced on Monday that Ackerman Investment Holdings will relinquish its majority stake in the business following a rights offer.
The family will also give up the right to nominate the chairman, CEO and chief financial officer immediately. The group quickly grew to become the country's biggest retailer, pioneering retailing firsts, including"no name" food brands and in-store banking.
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