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...Steinhoff raised around €1bn from selling a 20 per cent stake in Pepco but still owns 78 per cent of the group....
...Also, Action is one of the few portfolio holdings valued above relevant listed peers. The market wants proof of the premise that Action deserves this premium....
...B&M recently reported a fall in sales and profits in the first half of its fiscal year while Poundland owner Pepco has said UK trading conditions “remain challenging”....
...That has emboldened Steinhoff, a conglomerate rooted in South Africa, to offload Pepco Group, operator of discount chains Poundland, Dealz and Pepco....
...In total, Steinhoff and members of Pepco’s management team will sell 102.7m shares or 17.9 per cent of Pepco to the public, valuing the company at between 21.9bn zlotys and 26.5bn zlotys....
...These are less biased to apparel than Pepco and more towards impulse food and general merchandise....
...Warsaw-listed Pepco sells discount clothing and general merchandise from more than 3,000 stores, mainly in central and eastern Europe....
...They have responded by moving production nearer to Europe and holding more stock. For others, planning for Christmas 2022 will start towards the end of January....
...For the Pepco chain of more than 2,000 discount clothing shops, sales were up 6.6 per cent at stores trading throughout but down 6 per cent overall....
...Its successful Warsaw float of discount retailer Pepco has propelled the Frankfurt-listed shares to their highest level since 2018....
...Most were the clothing-led Pepco format. It intends to launch 300 or more in the full year....
...Mr Day’s holding company bought Bonmarche off the stock market in a £5.7m deal in July, only for it to be placed in administration three months later....
...Steinhoff has been selling assets in order to raise cash and has looked at a listing or sale of Pepco, its European discount store group that includes Poundland....
...Three creditor representatives sit on Pepco’s board. The growth potential of the Pepco brand in eastern Europe is likely to form the cornerstone of any pitch to investors....
...At its half-year results in August, chief executive Louis du Preez said “the only way for Steinhoff to survive is to become a pure investment holding company”....
...Mark Jackson, the chief executive of the holding company that owns the brands, said he was “absolutely delighted” to be working with new owners after being “shackled” by Steinhoff’s wider financial problems...
...PGS, which procures for Pepkor retailers in Africa, South East Asia and Europe is being restructured to reflect the fact that around 70 per cent of its sourcing is for Pepkor Europe retail brands such as PEPCO...
...But Andy Bond, the former Asda chief executive now in charge of Steinhoff’s European assets including Poundland, the UK discount chain, and Pepco in Poland and neighbouring countries, said the businesses...
...Nearly 18 months ago, the large US utility Exelon signed up to buy Pepco Holdings in a $12bn deal. Pepco is a regional utility....
...Pepco provides electricity to communities in the Washington DC and Maryland area....
...The group owns discount owns discount brands in many countries, including the chains Conforama in France and Pepco in Poland....
...Shares of Pepco Holdings, which operates mostly regulated electricity transmission, distribution and sales businesses in the north-east, tumbled 16.5 per cent on Tuesday to $22.51 after a regulatory body...
...Mr Harker is on the board of directors of Pepco Holdings and the Huntsman Corp, as well as a founding member of the board of advisers for Decision Lens....
...Exelon recently expanded its regulated utility exposure through the $4bn acquisition of Pepco. Duke Energy, meanwhile, is trying to sell 11 midwest power plants....
...If M&A illuminates strategic direction, then shareholders are not impressed with the path suggested by Exelon’s $12bn acquisition of utility Pepco Holdings announced on Wednesday....
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