Bidvest raises stake in Amap

Johannesburg - The Bidvest Group [JSE:BVT] said on Monday that it had raised its stake in Amalgamated Appliance Holdings [JSE:AMA] (Amap) from 27.6% to 28.3% by purchasing shares in the open market at a price not greater than the proposed offer consideration of R3.50 per ordinary share. 

On November 28 2012 Bidvest announced the joint firm intention which set out the particulars regarding the terms upon which Bidvest intends acquiring the entire issued share capital of Amap that it did not already own‚ by way of a scheme of arrangement in terms of section 114 of the Act.