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South Africa: Steinhoff Raises R4.8 Billion in Share Sale
News24Wire, 27 March 2019
Steinhoff managed to raise R4.8bn by placing over 600 million of its shares in KAP Industrial Holdings on offer. Read more »
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South Africa: Steinhoff to Sell Off Stake in Kap to Pay Debtors
News24Wire, 26 March 2019
Steinhoff [JSE:SNH] will sell over 600 million of its shares in KAP Industrial holdings in order to meet its various obligations, the group said in a shareholder notice issued on… Read more »
South Africa's Steinhoff Selling Assets to Pay Creditors
The Steinhoff collapse, considered to be the biggest corporate scandal the country has ever seen, has the firm now selling their stakes in various companies, to pay creditors. Major accounting irregularities that inflated company earnings for many years, surfaced after the sudden resignation of chief operating officer, Markus Jooste in 2017.
InFocus
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Steinhoff between 2009 and 2016, apparently created fictitious profit-boosting schemes totalling R106 billion, which is just under three times the net profit of the company over ... Read more »
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The collapse of Steinhoff International, the multi-billion dollar global business group, has been rightly described as the biggest corporate scandal in South African history, ... Read more »
