Ibex Investment Holdings, formerly Steinhoff International, has sold its 28% stake in Pepkor Holdings, valued at $1.5bn. Goldman Sachs, JPMorgan, and Investec managed the transaction as part of Steinhoff’s restructuring after an accounting scandal. Pepkor, with 6,000 stores, reported a 12.8% revenue increase to $3.3bn. Shoprite also sold its furniture business to Pepkor.

Read more at Yahoo Finance: Ibex, formerly Steinhoff, sells entire stake in Pepkor for $1.5bn