Pepkor Plans Flash–Shop2Shop Merger and Future Fintech Listing

South African retail group Pepkor Holdings plans to combine its financial-technology subsidiary Flash with payments platform Shop2Shop, forming a larger merchant-services and fintech business focused on the country’s informal economy. Under the proposed transaction, Pepkor will obtain a controlling 57.1% interest in the combined company, provisionally known as FintechCo. The retailer will subscribe for R1.57 billion in new Shop2Shop shares and transfer its full ownership of Flash, valued at R10.