Conditions for buying of Steinhoff properties have been met, Pepkor says
The retailer said in December subsidiaries Ultimo Properties and JD Electronics had agreed to take over properties and leases for R1.05bn
14 April 2021 - 11:52
Retailer Pepkor, formerly Steinhoff Africa Retail, says the conditions for the R1.05bn purchase of properties from subsidiaries of its largest shareholder, Steinhoff International, have been met.
Pepkor, the owner of Ackermans and Pep, said in December its wholly-owned subsidiaries JD Electronics and Ultimo Properties, would acquire properties and leases, which would be settled through the issuance of 70-million Pepkor shares. This represents about 1.91% of its share capital before the issuance...
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