Publications
Partners
Johannesburg - The Competition Tribunal has approved a transaction between furniture groups JD Group [JSE:JDG] and Steinhoff International Holdings [JSE:SHF] that will see JD Group acquire all of the shares in and claims against the companies comprising the South African retail assets of Steinhoff, being Unitrans Auto and Steinbuild.
The deal also includes the proposed sale of JD Group's interest in Abra, JD Group's Polish furniture retail business, to Steinhoff Global Investments GmbH.
The issuing of a Merger Clearance Notice in terms of the Competitions Act, approving the transaction unconditionally, means that JD Group has obtained all regulatory approvals and that the last of the conditions precedent in relation to the acquisition has been fulfilled.
However, approval from the Polish Competition Authorities in respect of the disposal of Abra remains outstanding.
The deal also includes the proposed sale of JD Group's interest in Abra, JD Group's Polish furniture retail business, to Steinhoff Global Investments GmbH.
The issuing of a Merger Clearance Notice in terms of the Competitions Act, approving the transaction unconditionally, means that JD Group has obtained all regulatory approvals and that the last of the conditions precedent in relation to the acquisition has been fulfilled.
However, approval from the Polish Competition Authorities in respect of the disposal of Abra remains outstanding.
