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Mr Price buys controlling stake in retailer Studio 88

Mr Price has bought a stake in Studio 88.
Mr Price has bought a stake in Studio 88.

South African retailer Mr Price Group Ltd has acquired a controlling stake in apparel retailer Studio 88 Group in a R3.3 billion ($227.75 million) deal, the company said.

The retailer said on Tuesday it had entered into a deal to buy 70% of Blue Falcon Trading 188 (Proprietary) Ltd, which owns the Studio 88 group of businesses.

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