South Africa, March 26 -- Pepkor, which also sells electronics and furniture, already owns the PEP and Ackermans clothing brands which have given it a dominant share of the children's clothing and school uniform markets in South Africa.

The total purchase consideration payable on the closing of the proposed deal represents less than 2% of Pepkor's market capitalisation subject to relevant net working capital adjustments, Pepkor said in a statement. It will be settled in cash

According to LSEG data, Pepkor's market capitalisation was R97bn at Monday's close, making the deal worth around R1.94bn.

The businesses to be bought by Pepkor operate 462 stores across South Africa, Botswana, Lesotho, Namibia and Eswatini. They will be incorporate...