Acquiring control of Shoprite will give it access to grocery shoppers in South Africa and 14 other African markets, including fast growing consumer hubs of Nigeria, Angola and Zambia. Steinhoff said in a statement it has entered into call option agreements with Titan Premier Investments, a company ultimately controlled by a Wiese family trust, as well as the Public Investment Corporation (PIC) and Lancaster Group. "The exercise and implementation of the call options will not require STAR to extend a mandatory offer to the remaining Shoprite shareholders," Steinhoff said. Once the call options are exercised and implemented, STAR will hold approximately 22.7% of the economic interest and 50% of the voting rights in Shoprite, Steinhoff said. The deal will value Shoprite's ordinary shares, deferred voting shares and cash at a combined R35.5 billion, the company said.