Steinhoff Africa Retail (Star) will be advised by the end of August how much it may need to pay to settle a controversial management-incentive plan devised by a company formerly owned by billionaire Christo Wiese. The operator of clothing chains including Pep and Ackermans disappointed investors in May when it booked R500m in charges related to the arrangement, a hangover from when the company was still part of scandal-hit retailer Steinhoff International. The plan was put together in 2011 by Wiese’s Pepkor Holdings, which was bought by Steinhoff in 2015 and now makes up the bulk of Steinhoff Africa. Star hired law firm Bowmans to investigate to what extent the retailer is liable for the deal, which allowed 44 Pepkor managers to take out loans to invest in the business that were guaranteed by the company. It expects to receive the findings in six weeks’ time at the latest, according to chairman Jayendra Naidoo. Mitigate risks "So far, we’re just saying there’s a risk and we’ve taken...

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