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South Africa's JSE to acquire 74.85% stake in Link SA

South African stock exchange JSE Ltd. agreed to acquire Australia-based Link Market Services Ltd.'s entire 74.85% stake in Link Market Services South Africa (Pty) Ltd., or Link SA, for 224.5 million rand.

The deal will be paid from the group's cash reserves, the company said. Link SA is the second-largest share register business in South Africa.

The transaction is expected to close by Dec. 31.

As of Aug. 26, US$1 was equivalent to 15.23 South African rand.