Connection Group`s acquisition of photographic chain Beyond IT has become unconditional.
The group, holding company of Incredible Connection, announced last month that it was buying Beyond IT for R30.2 million plus the value of stock, expected to be about R4 million.
The acquisition expands Connection Group`s photographic division, which was formed earlier this year with the purchase of 16 photographic stores from New Teltron.
Beyond IT operates 12 stores in malls in greater Johannesburg.
Connection Group says all the suspensive conditions to which the acquisition was subject, including the approval of the deal by the competition authorities, have been met.
The Connection Group share was trading at 955c on the JSE this morning, up 5c or 0.53% from yesterday`s close.
Yesterday the share gained 20c or 2.15% to end the day at 250c.
Related story:
Connection expands photo division
Share