Teoh Capital – the private investment firm of billionaire David Teoh and his family – has joined an auction for the nation’s oldest department stores chain David Jones which could spell the end of rather painful era for its South African owners.
The Australian Financial Review’s Street Talk column revealed on Thursday that Teoh Capital is mulling a bid for the department store, a move which comes as a surprise to many in the retail sector because its investment focus is in technology and software-as-a-service companies.
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Carrie LaFrenz is a senior journalist covering retail/consumer goods. She previously covered healthcare/biotech. Carrie has won multiple awards for her journalism including financial journalist of the year from The National Press Club. Connect with Carrie on Twitter. Email Carrie at carrie.lafrenz@afr.com
