A $6.7 billion deal could see the emergence of a new retail powerplayer in Australia.
South African-based Steinhoff Internation, which owns furniture chain Freedom, has purchased Pepkor Holdings for $6.7 billion.
Pepkor has retail operations in 16 countries, including Best & Less and Harris Scarfe in Australia.
Pepkor also operates Jay Jays South Africa through a joint venture with Australian owner Just Group.
Pepkor was founded in 1965 and recorded revenue of 38.2bn rand in fiscal 2014 ($AU4.1b).
Steinhoff has already received support to acquire a 92.3 per cent controlling stake in the company.
It will purchase a 52.5 per cent stake from Titan, a 37 per cent stake from Brait and a 2.8 per cent stake from Pepkor management.