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Steinhoff acquires PSG stake

Jan 30 2012 13:14 I-Net Bridge

Company Data

Steinhoff Interntl Hldgs [JSE : SHF]

Last traded R26.64
Change R0.22
% Change 0.83%
Cumulative volume 4.02m
Market cap R47.14bn

Last Updated: 25/05/2012 at 19:32. Prices are delayed by 15 minutes. Source: McGregor BFA

 

Psg Group Limited [JSE : PSG]

Last traded R57.00
Change R0.50
% Change 0.88%
Cumulative volume 20,745
Market cap R11.56bn

Last Updated: 25/05/2012 at 19:32. Prices are delayed by 15 minutes. Source: McGregor BFA

 

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Johannesburg - Steinhoff International Holdings [JSE:SHF] on Monday said its acquisition of a 20% shareholding in PSG Group [JSE:PSG] had been approved by a majority of its shareholders.

In December it was announced that Steinhoff would acquire approximately 36.9 million PSG shares from the vendors for a total consideration of R1 617.5m

The PSG shares were acquired by Steinhoff from shareholders of PSG - CH Wiese, Mayfair Speculators Proprietary and Thembeka Capital.

This shareholding represented 20% of PSG's current issued share capital, net of treasury shares.

PSG is an investment company listed on the JSE, with a current market capitalisation, net of treasury shares, of R8.7bn.

Steinhoff said its investment strategy has been focused on investing in complementary assets that could provide benefits to, or derive benefits from, the existing businesses within its portfolio.

 

 
 
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