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BUSINESS NEWS - Clicks is planning to buy Pick n Pay’s retail pharmacy business, that will include 25 in-store pharmacies. These pharmacies will be rebranded to Clicks, increasing its national presence to 632 pharmacies.
According to a Stock Exchange News Service (SENS0 statement, Clicks will obtain the pharmacy licences and ethical drug stock, and all staff working in the pharmacies will be transferred to Clicks in terms of the proposed transaction.
Clicks is already the biggest pharmacy chain in the country, before adding the Pick n Pay pharmacies.
“The acquisition of the pharmacy chain accelerates our strategy of extending the convenience and accessibility of the Clicks pharmacy network. Currently, 50% of the country’s population live within 6 kilometres of a Clicks pharmacy and we aim to improve this over time as we get closer to customers.
Gold Recently Posted Its Biggest Weekly Gain Since The Start Of 2021
Financialnewsmedia.com News Commentary
PALM BEACH, Fla., May 11, 2021 /PRNewswire/ The Pandemic has not just harmed humans, it has shred economies around the world, but as each country tries to heal their economy there are unintended results. For instance, in the US, high inflation as a result of large government initiatives… drives the price of precious metals up and up. A December article by metals watchers, FXEmpire said that the collapsing dollar could push gold to $2300 by May 2021. They said that: The dollar is in the middle of a significant devaluation. The current breakdown could extend into Q2 2021 before the next rebound. We expect sharply higher precious metals prices as a result, with silver and platinum taking the lead… We are in a similar setup to the post-trendline breakdown of gold in 2002/2003. Consequently, (we) believe the dollar is on the verge of an accelerated decline towards 80. The w
Apr 15, 2021
First National Bank has given AYO Technology Solutions notice to close its transactional banking facility with effect from 3 May 2021.
According to a statement from the company, it does not have any lending facilities with FNB.
AYO is contesting the move. “Despite the company’s best efforts, FNB has not provided AYO with what it regards as valid reasons for termination,” the statement on the Stock Exchange News Service (SENS) reads.
“The company believes that it is entitled to fair treatment and as a result, the company has instituted legal proceedings against FNB for its decision to close the company’s transactional banking facility.
Elvira Wood
Sisa Ngebulana s Rebosis says it is in negotiations with investors for a possible transaction that could change its fortunes.
The company has been drowning in debt, sparking fears that it may soon go under.
Rebosis says if the negotiations go well, the transaction could fundamentally change its financial matrix.
It looks like the debt-laden Rebosis might be thrown a lifeline. On Wednesday morning, the property company founded by Sisa Ngebulana announced on the Stock Exchange News Service (SENS) that it is currently in negotiations with local and offshore institutions and pension funds for a possible transaction that could change its fortunes.
Everything media mogul Iqbal Survé touches is anathema to one of South Africa’s Big Four banks – the same bank that led the charge in cutting off the Gupta family from the banking system in 2016.
amaBhungane has established that on 27 August 2020 Absa sent letters to every client directly or indirectly controlled by Survé’s Sekunjalo Investment Holdings, giving 60 days’ notice of termination of services.
In subsequent court proceedings late last year, Absa general counsel Marthinus Janse van Rensburg insisted that “[Absa’s] continued association with customers in the Sekunjalo Group posed intolerable reputational, commercial and legal risks.”
The companies cut off from their banking facilities include Survé’s main JSE-listed vehicle, African Equity Empowerment Investments (AEEI), its separately listed subsidiaries AYO Technology Solutions and Premier Fishing & Brands, and all subsidiaries of the three companies. Sekunjalo-controlled Independent Media appears una