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JD buys into Blake and Maravedi
Furniture retailer JD Group has bought the shareholding of Unifer Holdings Limited in Blake & Associates Holdings and increased its holding from 27.5% to 55%, it said on Wednesday, 17 September.
The founding members of Blake will remain shareholders in the company and continue to be involved in its operations on an ongoing basis, it said.
It added that it has bought ABSA Group's shareholding in Maravedi Group and increased its holding from 42.7% to 90.5%.
Thebe Investment Corporation (Proprietary) Limited will remain a 9.5% shareholder in Maravedi.
Both transactions are subject to a number of suspensive conditions including Competition Commission approval.
The transactions are neither a Category 1 nor a Category 2 transaction as defined in terms of the Listings Requirements of the JSE, when considered on an individual or combined basis.
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