Tycoons ready to cede Pick n Pay voting power to lure new investors

Ackerman Investment Holdings, the family’s holding company, will reduce its voting control to below 50 percent after a planned rights offer is completed.  The move helps “change perception outside the company,” Pick n Pay’s chief executive officer Sean Summers said in an interview in Bloomberg’s Johannesburg office.The Ackerman family isn’t alone in controlling the fate […]