South African non-food retailing company Edcon Holdings Ltd. is in discussions to land as much as 3 billion rands ($217 million) in funding.

Edcon, whose subsidiaries include Edgars department stores, will receive about $130.2 million in commitments from South African investment management company Public Investment Corp (PIC).

Furthermore, other investors may also contribute another $50.6 million via reduced rent charges and banks about $36.2 million.

Edcon presented a proposal to PIC, which will make a decision after subjecting it to investment processes.