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JD Group buys 19 Steinhoff properties

Dec 14 2012 11:07 Reuters

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Johannesburg - Retailer JD Group [JSE:JDG] said on Friday it had acquired 19 properties and leases from Steinhoff International Holdings [JSE:SHF] in exchange for JD Group shares worth R447m. 

JD Group said the purchase would be done through a fresh issue of 9.5 million JD Group shares at a price of R47 per share. 

The company said the transaction was aimed at diversifying its asset base.

 

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