SOUTH AFRICAN MONOPOLY ENTERS BRITISH RETAILING from a South African reader
The big South African firm, Charter Consolidated, has acquired a 40% interest in the United Kingdom retail chain, Werff Bros., which Edgar Stores controls through a 60% interest bought in 1962, Charter has taken over the interest held by Montague Burton, thus leaving Edgars! participation in Werff Bros. unimpaired. The transaction has been negotiated through a subsidiary of Charter, A 20-year unsecured loan of £250,000 has been arranged to finance the chain's further development. Charter is the financial company resulting from the merger of the BSA Company, Central Mining, and Cons. Mines Its balance sheet showed net assets of more than £156 million, This is yet ; another indication of the close organic links between British big business and the South African monopolies. This must be borne in mind by all opponents of Apartheid who want to understand the source of opposition in the United Kingdom to firm and decisive action against the South African Government.
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