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South Africa's Woolworths shareholders approve David Jones deal
June 17, 2014 / 9:22 AM / 3 years ago

South Africa's Woolworths shareholders approve David Jones deal

CAPE TOWN (Reuters) - Shareholders of Woolworths (WHLJ.J) on Tuesday approved the South African retailer’s $2 billion acquisition of Australia’s David Jones DJS.AX.

Shoppers walk into a Woolworths store at a shopping center in Lenasia, south of Johannesburg August 28, 2013. REUTERS/Siphiwe Sibeko

Shareholders also backed the company’s plan to issue up to 30 percent its stock for a rights offer to partly fund the deal.

Reporting by Wendell Roelf; Writing by Tiisetso Motsoeneng; Editing by Stella Mapenzauswa

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