Inside Steinhoff’s reckless multibillion-rand deals
PwC reports finds pattern of disregard for due diligence and valuation when company went on an acquisition spree
22 January 2025 - 05:00
In a tale of corporate mismanagement and unchecked power, Steinhoff, under the dubious leadership of the late Markus Jooste, signed off several multibillion-rand deals with utter disregard for due diligence.
One such deal, seemingly concocted at a horseracing course, symbolises the reckless abandon that led to the downfall of a company once at the vanguard of the European discount furniture retail market, according to a full report into SA’s biggest corporate scandal...
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