Mr Price Group has agreed to buy German value retailer NKD Group for up to 487 million, reports Cape town Etc .
According to Reuters, the deal will mark the group's first entry into Europe. It will add about 2108 stores across seven Central and Eastern European countries.
The purchase price, including shareholder loans, is equal to roughly R9.66 billion. Mr Price said it will fund the transaction with existing cash and debt facilities.
