Lewis Gets Approval to Buy 30 Retail Stores in Botswana, Lesotho

February 16, 2016

Regulatory, competition approvals obtained for purchase of 20 Ellerines and Beares furniture stores in Botswana and 10 in Lesotho, South African retailer says in e- mailed statement.

* Lesotho stores started operating; Botswana stores to trade under Lewis brand from early March.
* Opening of stores follows Nov. announcement of planned purchase of 62 Ellerines and Beares outlets in southern Africa for ~250m rand, doubling Lewis’ Africa stores.
* NOTE: Lewis Falls as Tighter South African Credit Lending Curbs Sales. Source: Bloomberg