Aug 22 (Reuters) - Italtile Ltd ITEJ.J
* UPDATE ON ACQUISITION OF CERAMIC INDUSTRIES PROPRIETARY LIMITED
* PURCHASE CONSIDERATION EQUATES TO R3.61 BILLION WHICH WILL BE SETTLED IN CASH (50%) AND BALANCE BY ISSUE OF ITALTILE SHARES AT R11.57 PER SHARE
* COMPETITION TRIBUNAL ON AUG 21 ANNOUNCED MERGER HAS BEEN CONDITIONALLY APPROVED. SHAREHOLDERS ARE REFERRED TO STATEMENT RELEASED BY TRIBUNAL
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