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Eddels: IDC in talks with possible buyer

Published: 14th Nov 2022

Author: Tony Dickson - S&V Editor

Pietermaritzburg, KZN, SA - There are ongoing negotiations between the shareholders of Celrose (Pty) Ltd and unidentified prospective buyers over the potential sale of Celrose subsidiary Eddels Shoes.
      As of early last week, no offer had been received from the prospective buyer or buyers. According to a source, it is hoped and expected that there will be an offer this week.
      The Industrial Development Corporation (IDC) is the biggest shareholder in Celrose, having taken over Edcon's shares before Edcon's closure.
      Tshepo Ramodibe, IDC Head of Corporate Affairs, responded to our request for comment on negotiations: "The challenges facing Eddels are well documented. As such, the IDC has been and continues to explore available options that can help improve Eddels’s operational efficiencies."

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