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A selection of business news briefs

26 Mar 2014

A selection of business briefs from around the industrial and retail sectors that have occurred in the past few days.

Some of the deals concluded in the past few days. Image: Investment Europe

Steinhoff increase JD Group's stake to 82%

Steinhoff International (SHF) has received notifications of acceptance of the tender offer from a number of JD Group shareholders that will result in Steinhoff increasing its total interest in JD Group to 82.2%. Read more here.

Rare Holdings' loss down from 128.3c to 20.19c

Piping distribution group Rare Holdings reported a headline loss per share for the six months to December of 20.19 cents from a loss of 128.35 cents in the previous six months to December 2012. Turnover was up 31.8% to R136.3m and gross profit up 84% to R31.2m.

Famous Brands buys 70% of Wakaberry

Famous Brands has bought a 70% stake in the Wakaberry Frozen Yoghurt Bar business for an undisclosed cash amount. Read the full story here.

PIC reduces Pick n Pay shareholding

Pick n Pay Stores announced that the Public Investment Corporation (PIC) had reduced its shareholding in the retailer by 1.506% to 9.702%.

Metair financial director Brian Jacobs resigns

Metair's financial director Brian Jacobs has quit and will be replaced by Sjoerd Douwenga with immediate effect. Jacobs had been with the company for the past five years. Douwenga was part of the deals team at PricewaterhouseCoopers that had advised Metair on acquisitions.

Kelly transaction concluded

Personnel management group Kelly says the takeover of Anglo African Outstaffing has been completed after it entered into an acquisition agreement to buy 80% of the issued share capital of the company.

Source: I-Net Bridge

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