S.African stocks rise, led by Steinhoff

South African shares closed stronger on Monday as investors welcomed a takeover deal by industrial and retail group Steinhoff.

The Johannesburg Top-40 index of blue-chip stocks gained 1.36 percent to 23,579.07 points while the All-share index added 1.25 percent to 26,161.53 points.
The trader said there was no real market moving news on Monday outside of Steinhoff's 15 billion rand all-share offer to buy retailer JD Group.

Under the terms of the deal, JD Group shareholders will receive 3.6 Steinhoff shares for each JD share

Read more at Reuters South Africa

Steinhoff to buy rest of Unitrans

Transport and logistics group Unitrans said on Wednesday it would dispose of its entire business to a subsidiary of furniture manufacturer Steinhoff, sending its shares lower.

Unitrans said minority shareholders would receive two Steinhoff shares for each Unitrans share held. Steinhoff already owns 60.76% of Unitrans.

Read more at FIN24.co.za