JD Group buys properties from SteinhoffComment on this story
South African retailer JD Group said on Friday it had acquired 19 properties and leases from Steinhoff International in exchange for JD Group shares worth 447 million rand ($51.7 million).
JD Group said the purchase would be done through a fresh issue of 9.5 million JD Group shares at a price of 47 rand per share. The company said the transaction was aimed at diversifying its asset base. - Reuters