Steinhoff’s Gulfstream jet is for sale
The luxuriously appointed 2006 Gulfstream G550 private jet previously had a price tag of about $25m
Steinhoff International, the South African retail group laid low by an accounting scandal, is selling one of its more high-flying assets as it seeks liquidity to keep itself alive. The owner of UK discounter Poundland and bedding supplier Mattress Firm in the US is in discussions with a potential buyer of a 2006 Gulfstream G550 private jet that has shuttled executives around the world, according to a person familiar with the situation. The luxuriously appointed craft previously had a price tag of about $25m. The plane was put up for sale after the company announced on December 5 that it had uncovered accounting irregularities, the person said. The disclosure prompted a plunge in the share price of Frankfurt-and Johannesburg-listed Steinhoff, along with the resignation of CEO Markus Jooste and chairman Christo Wiese. Steinhoff said on Thursday last week that it was seeking "significant near-term liquidity" for some of its business units. Steinhoff said it took delivery of the jet in ...
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