💨 Abstract

The South African government's Public Investment Corporation (PIC) now holds over 20% of Woolworths, making it the company's largest shareholder, surpassing Allan Gray. This acquisition occurred as Woolworths' share price hit a low point since 2022 due to challenges in its Australian businesses and a recent meat and fresh produce shortage in stores, caused by heavy rains and supplier issues in various provinces.

Courtesy: www.thesouthafrican.com

Summarized by Einstein Beta 🤖