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Steinhoff sells part of stake in South Africa's KAP to help cut debt

By: Reuters     14th March 2018 Crisis-hit South African retailer Steinhoff raised R3.66-billion ($311-million) from the sale of a 16.7% stake in KAP Industrial, another step in its efforts to shore up its finances and pay down debt. Steinhoff, which has more than 40 retail brands that include Conforama, Poundland and Mattress... 

Steinhoff scandal shows need for activist shareholding – JSE CEO 

By: Reuters     26th January 2018 An accounting scandal involving retailer Steinhoff has highlighted the need for more activist shareholding and more vigorous oversight by boards, the chief executive of South Africa's stock exchange operator said on Friday. Steinhoff, which owns more than 40 brands including Poundland in Britain... 

Steinhoff investor Wiese sells part of Shoprite stake

By: Reuters     21st December 2017 South African investor Christo Wiese has sold an additional R1.1 billion of shares in supermarket group Shoprite, exchange filings showed on Thursday, after his exposure to scandal-hit retailer Steinhoff dented his fortune. More than $14-billion of shareholder value has been wiped off Steinhoff... 

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