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Steinhoff International Hldgs NV  -     

Statement re Possible Offer

Released 15:21 18-Mar-2016

RNS Number : 6087S
Steinhoff International Hldgs NV
18 March 2016
 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION.

Steinhoff International Holdings NV

("Steinhoff" or the "Company")

This is an announcement falling under Rule 2.8 of the UK City Code on Takeovers and Mergers (the "Code"). 

No intention to make an offer for Home Retail Group plc ("HRG")

On 19 February 2016, Steinhoff confirmed that it had approached the Board of HRG regarding a possible cash offer for the entire issued share capital of HRG.

Steinhoff now confirms that it does not intend to make an offer for HRG.

This announcement is made in accordance with Rule 2.8 of the Code.  As a result of this announcement, Steinhoff will, except with the consent of the UK Panel on Takeovers and Mergers, be bound by the restrictions contained in Rule 2.8 of the Code.

Steinhoff confirms that it will not announce an offer for HRG in competition with an announcement of a firm intention to make an offer for HRG by J Sainsbury Plc ("Sainsbury's") during the current offer period. Therefore, for the purposes of Note 2 on Rule 2.8 of the Code and in the event that Sainsbury's announces a firm intention to make an offer for HRG during the current offer period, this announcement will be treated as having been made after the Sainsbury's firm offer announcement.

The UK Panel on Takeovers and Mergers has agreed that, notwithstanding the provisions of Panel Statement 2016/4, Steinhoff is no longer to be treated by it as a potential competing offeror for HRG for the purposes of the Code and no further clarification announcement by Steinhoff will be required.

Enquiries:

Steinhoff International Holdings NV

Mariza Nel

Tel: +27 (0)21 808 0711

Barclays (financial adviser to Steinhoff)

Mark Todd
Swapnil Sinha

Bertie Whitehead (Corporate Broking)

Tel: +44 (0)20 7623 2323

HSBC (financial adviser to Steinhoff)

Philip Noblet

Oliver Smith

Mark Dickenson (Corporate Broking)

Tel: +44 (0)20 7991 8888

Investec Bank plc (financial adviser to Steinhoff)

Andrew Pinder

Symmie Swil

Sara Hale (Corporate Broking)

 

Tel: +44 (0)20 7597 4000

Barclays Bank plc, which is authorised by the Prudential Regulation Authority and regulated in the United Kingdom by the FCA and the Prudential Regulation Authority, is acting as financial adviser to Steinhoff and for no one else in connection with contents of this announcement and will not be responsible to anyone other than Steinhoff for providing the protections afforded to its clients or for providing advice in relation to the contents of this announcement or any other matters referred to in this announcement.

HSBC Bank plc, which is authorised by the Prudential Regulation Authority and regulated in the United Kingdom by the FCA and the Prudential Regulation Authority, is acting as financial adviser to Steinhoff and for no one else in connection with contents of this announcement and will not be responsible to anyone other than Steinhoff for providing the protections afforded to its clients or for providing advice in relation to the contents of this announcement or any other matters referred to in this announcement.

Investec Bank plc, which is authorised by the Prudential Regulation Authority and regulated by the FCA and the Prudential Regulation Authority in the United Kingdom, is acting for Steinhoff and no one else in connection with the contents of this announcement and will not be responsible to anyone other than Steinhoff for providing the protections afforded to clients of Investec or for providing advice in relation to the contents of this announcement or any other matters referred to in this announcement.

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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Statement re Possible Offer - RNS