Star may have to drop Remgro from list of potential new investors
Steinhoff Africa Retail (Star) may have to eliminate billionaire Johann Rupert’s Remgro from a list of potential new investors as it seeks to distance the retailer from its scandal-hit parent, according to people familiar with the matter. Star asked Stellenbosch-based Remgro for a meeting about whether it would be interested in taking a stake, said the people, who asked not to be identified because the talks were private. Remgro was unlikely to proceed, they said. Remgro’s investments include hospital company Mediclinic International, and wine and spirits producer Distell Group. Management of Star engages with many investors and the nature of the discussions do not require a stock-exchange statement, a spokeswoman said in an e-mailed response to questions. Remgro did not immediately respond to a request for comment. Last week, Star said it would revert to the name Pepkor Holdings to separate itself from Steinhoff International Holdings, which in December reported accounting wrongdoi...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.