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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

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