Southern African building materials retailer Cashbuild has reached an agreement with Pepkor Holdings, subject to conditions precedent, to acquire 100% of the issued share capital of its wholly-owned subsidiary The Building Company (TBC), as well as the shareholder loan claims of Pepkor against TBC, for a purchase consideration of R1.07-billion TBC is a Southern African building materials retail and wholesale business, providing a full spectrum service offering to the construction industry including the residential, commercial and industrial markets, with a core competency in servicing building contractors.
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