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« on: March 19, 2014, 02:08:56 pm »
RATIONALE FOR THE TENDER OFFER
As indicated in JD Group’s interim results announcement on 20 February 2014, JD
Group is facing many challenges in the furniture retail and consumer finance
business segments. These challenges will take some time and additional capital to
overcome. The increase of Steinhoff’s investment in JD Group, in an expedient
manner, will enhance Steinhoff’s ability to support the operations of JD Group.
The Tender Offer will provide JD Group Shareholders with an attractive premium to
the current JD Group share price and an opportunity to invest in Steinhoff. As
the second largest furniture retailer in Europe, and with a good growth
trajectory, Steinhoff gives JD Group Shareholders international exposure and
greater liquidity.