WATCH: Steinhoff shareholders could get some value
Business Day TV spoke to Business Day journalist Katherine Child
26 April 2023 - 16:29
byBusiness Day TV
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Steinhoff International has agreed to include a proposal that would see shareholders receive a fifth of any restructured company, rather than nothing.
The debt-laden international retail group said its creditors were prepared to accept contractual contingent value rights (CVRs) for shareholders, as part of a Dutch restructuring plan for the group. Steinhoff's board did not specify the details of the CVRs but said this would be published “in due course”.
Business Day discussed the details of the restructure with Business Day journalist Katherine Child.
Support our award-winning journalism. The Premium package (digital only) is R30 for the first month and thereafter you pay R129 p/m now ad-free for all subscribers.
NEWSROOM CROSSING
WATCH: Steinhoff shareholders could get some value
Business Day TV spoke to Business Day journalist Katherine Child
Steinhoff International has agreed to include a proposal that would see shareholders receive a fifth of any restructured company, rather than nothing.
The debt-laden international retail group said its creditors were prepared to accept contractual contingent value rights (CVRs) for shareholders, as part of a Dutch restructuring plan for the group. Steinhoff's board did not specify the details of the CVRs but said this would be published “in due course”.
Business Day discussed the details of the restructure with Business Day journalist Katherine Child.
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