Mr Price Slumps Amid Concern Over Value of NKD Retail Purchase
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Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Mr Price Group Ltd. slumped the most on record amid market concerns that the South African clothing chain is overpaying for the retail business of NKD Group to expand in central and eastern Europe. The Durban-based specialist in mid-range apparel, sports goods and homeware will pay as much as €487 million ($567 million) in cash for all of Pegasus, NKD’s retail unit, as well as NKD’s shareholder loan receivables, Mr Price said in a statementBloomberg Terminal Wednesday.