(Reuters) - Shareholders in South African fashion retailer Edcon voted on Monday in favour of the proposed buyout of the firm by private equity firm Bain Capital for 25 billion rand.
An official overseeing the vote counting of the proposed deal to acquire Edgars Consolidated Stores Ltd (Edcon) said the votes in favour of the deal were 80.6 percent. Bain Capital needed 75 percent shareholder approval for the deal to succeed.
Read more at Reuters Africa
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