S.Africa's Mr Price receives approvals for acquisition of Power Fashion

South African budget retailer Mr Price Group said on Tuesday it had received all approvals to acquire retailer Power Fashion in a deal likely to top $105 million.

The budget clothing and homeware retailer said the acquisition, which would expand its market share in budget retail, would be effective from April.

Mr Price said earlier this month it would buy privately-owned kitchenware company Yuppiechef as it seeks to bolster its online presence and premium offerings.