Published On: Wed, Nov 26th, 2014

Christ Wiese And Markus Joost Pair Up for the Merger of a Decade

Steinhoff International Holdings

South Africa’s Christo Wiese and Markus Joost have paired up, and are getting together in a $5.7 billion deal, according to Bloomberg. Weise, owner of Pepkor Holdings is selling to Markus Jooste’s Steinhoff International Holdings, which marks South Africa’s biggest merger in ten years. The combined companies will be among the 5 top retailers in the world and will have 6, 000 shops in three continents.

Weise and Joost have been business partners for 20 years. He will remain a shareholder in Steinhoff with a stake worth $3.17 billion.

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