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.