Shoprite Turns Down Deal With Billionaire Shareholder Wiese

South African billionaire Christo Wiese lost half his fortune when the furniture retail company Steinhoff, of which he was chairman at the time, was rocked by an auditing scandal that saw their profits being misrepresented to shareholders and investors in 2017. It saw its then-CEO Markus Jooste resigning in a hurry before an investigation could be instituted. Wiese's hopes of recouping some wealth he lost, has been rebuffed by retailer Shoprite of which he is the company founder, after he wanted U.S.$224 098 766,10 for his high-voting shares.

 

 

(file photo)

InFocus

See What Everyone is Watching