Ackerman family cedes controlling stake in SA retailer Pick n Pay [Yahoo! Finance]
PICK N PAY STRS UNSP/ADR (PKPYY)
NASDAQ:AMEX Investor Relations:
picknpayinvestor.co.za
Company Research
Source: Yahoo! Finance
The deal generated proceeds of R1.6bn ($93.06m). The latest share sale was conducted via an accelerated bookbuild, with the shares priced at R25.50 each. The placement represents 8.5% of Pick n Pay's issued ordinary share capital and was completed at a 6.4% discount on 17 November 2025 closing share price. Following the disposal, the Ackerman family's voting interest in Pick n Pay will decrease from 49% to 36.8%. The family will no longer hold majority control but will remain the retailer's anchor shareholder. The Ackerman family stated that it "remains fully committed to Pick n Pay, Sean Summers and his leadership team, as well as to the company's turnaround plan and growth strategy." The Ackermans retain 135.35 million ordinary shares. The 105.18 million "B" shares attached to the placement shares will lose their voting rights upon settlement and will be cancelled by Pick n Pay. The placement was executed as a private offering to qualifying investors, with settlemen
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