Steinhoff’s R170bn settlement target lifts shares
06 July 2020 - 12:31
UPDATED 06 July 2020 - 19:24
Steinhoff is working on a settlement value for legal claims worth at least R170bn as the global retailer rushes to overcome its biggest challenge after unravelling a web of fraudulent accounting practices that left it fighting for survival.
“Steinhoff continues to assess options, including total settlement value, consideration and terms, for a global settlement of legacy litigation claims and Steinhoff will update the market in due course,” the company said in a statement on Monday. ..
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