Poundland to be sold to Steinhoff for £597 million
Poundland has agreed to a £597 million takeover bid by South African retail group Steinhoff International.
Steinhoff, which also owns the Harveys furniture chain and Benson for Beds, will pay 222p per share for the company.
Poundland operates a network of over 900 stores across the UK, Republic of Ireland and Spain.
Darren Shapland, chairman of Poundland, said: "The Poundland Board believes that SEAG's all-cash offer presents Poundland shareholders with an opportunity to realise their shareholding at a certain and attractive price.”
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