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Steinhoff ups its stake in JD Group to 82%

Steinhoff International (SHF) has to date received notifications of acceptance of the tender offer from a number of JD Group shareholders‚ Steinhoff says.

26 Mar 2014

Steinhoff ups its stake in JD Group to 82%

"These acceptances will result in Steinhoff increasing its total beneficial interest in JD Group from 56.8% to 82.2% of the total JD Group issued ordinary shares‚ excluding treasury shares‚" the statement read.

Shareholders will receive one Steinhoff share for every 1.9 JD Group shares‚ Steinhoff said.

Steinhoff has previously offered to acquire up to 98% of the issued ordinary shares in JD Group excluding treasury shares.

Source: I-Net Bridge

For more than two decades, I-Net Bridge has been one of South Africa’s preferred electronic providers of innovative solutions, data of the highest calibre, reliable platforms and excellent supporting systems. Our products include workstations, web applications and data feeds packaged with in-depth news and powerful analytical tools empowering clients to make meaningful decisions.

We pride ourselves on our wide variety of in-house skills, encompassing multiple platforms and applications. These skills enable us to not only function as a first class facility, but also design, implement and support all our client needs at a level that confirms I-Net Bridge a leader in its field.

Go to: http://www.inet.co.za