Dis-Chem in bid to buy Baby City for R430m
Dis-Chem has entered into a conditional arrangement to buy Baby City from its founder shareholders, the Aronoff family, for R430m.
According to a Fin24 report, Dis-Chem said Michel Aronoff would continue to serve as MD of Baby City and current staff would be retained if the deal was given the green light by competition authorities and certain other conditions relating to employment contracts and leases were fulfilled.
Dis-Chem said if the transaction was approved, it would include Dis-Chem branded clinics at Baby City stores, offering ante and post-natal clinic services aimed at babies and toddlers.
It has also identified another 30 possible sites for new stores.
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Article disclaimer: While we have made every effort to ensure the accuracy of this article, it is not intended to provide final legal advice as facts and situations will differ from case to case, and therefore specific legal advice should be sought with a lawyer.
Article disclaimer: While we have made every effort to ensure the accuracy of this article, it is not intended to provide final legal advice as facts and situations will differ from case to case, and therefore specific legal advice should be sought with a lawyer.
