The investment is set to boost the local manufacturing industry which was crippled by the lockdown. Foschini
JOHANNESBURG - The Competition Tribunal has given the Foschini Group the green light to acquire Jet stores.
The Southern African Clothing & Textile Workers Union has welcomed the sale.
As part of the deal, the Foschini Group may not retrench workers for two years.
The group made an R480-million bid for Jet in July and it now receives stock worth R800-million.