Reversing the old colonial trade movement somewhat, the news of this acquisition comes as proof that cheap money can turn old equations on its head. South African investment firm Brait has just completed a successful $1.2-billion bid for British retailer New Look. The latter operates an 800-strong chain of stores across 21 countries selling apparel and footwear for both men and women. Brait, on the other hand, counts as its majority stakeholder Christoffel Wiese, a prominent investment banker and well-known South African billionaire. The SA-based firm is reported to be preparing to give the retailer a makeover, with an IPO supposedly on the cards.
Brand new look
South African investment firm Brait has just completed a successful $1.2-billion bid for British retailer New Look
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