My opinion on the Steinhoff/Shoprite tie up will be that the directorate will have to make decisions around restructuring the enlarged entity, and you well may see a division of the entity as well. It may well be that the retail operations will constitute a division (Pep, Checkers, Shoprite Tekkie Town and others) and back end manufacturing and production in a separate pillar. So you may well see more Hyperama's through which they will sell groceries, shoes/clothing and furniture (out of their own stable) They well may try and achieve a one stop shop that can satisfy the customers total needs, they also have a tie up with a chemist chain so they can offer a wide service
I do think that when there is a tie up between Shoprite/Checkers/Pep/Steinhoff they are going to have to look at their delivery model, which could take bucket loads of cash/debt/or share auctions
Just my opinion