AMAP - Acquisition by Steinhoff of a strategic int
AMAP - Acquisition by Steinhoff of a strategic interest in AMAP
Amalgamated Appliance Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1997/004130/06)
Share code: AMA & ISIN: ZAE000012647
(`AMAP`)
ACQUISITION BY STEINHOFF OF A STRATEGIC INTEREST IN AMAP
Shareholders of AMAP are advised that pursuant to the disposal by Salton Inc of
its interest in AMAP, Steinhoff International Holdings Limited (`Steinhoff`) has
acquired 53 259 690 AMAP shares representing a strategic interest of 25.1% in
AMAP.
Upon the acquisition becoming unconditional, Steinhoff will obtain
representation on the AMAP board of directors.
AMAP and Steinhoff Africa have common customers under the major retail chains
and substantial synergies exist in respect of, particularly, warehousing,
logistics and distribution. Further benefits arising from the transaction
include enhanced utilisation of sourcing, infrastructure and purchasing power.
Johannesburg
12 September 2005
Corporate advisor and sponsor: Bridge Capital Services (Pty) Limited
Date: 12/09/2005 04:33:03 PM S
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