|
JDG
JDG
JDG - JD Group - Competition Tribunal approval of the transaction between JD
Group and Steinhoff International Holdings Limited ("Steinhoff")
JD Group Limited
(Incorporated in the Republic of South Africa)
(Registration number 1981/009108/06)
JSE Share Code: JDG
ISIN: ZAE000030771
("JD Group" or "the Company")
COMPETITION TRIBUNAL APPROVAL OF THE TRANSACTION BETWEEN JD GROUP AND STEINHOFF
INTERNATIONAL HOLDINGS LIMITED ("Steinhoff")
Shareholders are referred to various announcements released on SENS and
published in the press since 5 April 2011 regarding:
(i) the proposed acquisition by JD Group of all of the shares in and claims
against the companies comprising the South African retail assets of
Steinhoff, being Unitrans Auto and Steinbuild ("the Acquisition"); and
(ii) the proposed sale of JD Group`s interest in Abra, JD Group`s Polish
furniture retail business, to Steinhoff Global Investments GmbH ("the
Disposal)".
Shareholders are advised that the Competition Tribunal of South Africa yesterday
(6 July 2011) issued a Merger Clearance Notice in terms of the Competitions Act,
approving the transaction unconditionally.
JD Group has therefore obtained all regulatory approvals and the last of the
conditions precedent in relation to the Acquisition has been fulfilled.
Accordingly, the Acquisition of Steinhoff`s South African retail assets will now
be implemented.
Approval from the Polish Competition Authorities in respect of the Disposal
remains outstanding. Once this approval has been received, the sale of Abra will
be implemented in accordance with the terms of the agreement.
7 July 2011
Johannesburg
Financial advisor to JD Group
J.P. Morgan
Sponsor to JD Group
PSG Capital (Proprietary) Limited
Legal advisor to JD Group
Fluxmans Attorneys
Competition law and corporate law advisor to JD Group
Norton Rose South Africa
Reporting accountants and auditors
Deloitte & Touche
Date: 07/07/2011 07:05:14 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
| Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information. | |||||||||||||
| Other Profile Group sites: FundsData Online (unit trust data) | Profile Group corporate site | |||||||||||||
| [ Terms of Use | Privacy Policy | PAIA manual | FAQs/Help | Site Map | © Copyright Reserved 2026 ] | |||||||||||||
|
|||||||||||||
