Did Pepkor chair Jayendra Naidoo’s fee come out of state pension fund?
Naidoo received R120m underwriting commission on Steinhoff equity fund-raising deal
23 August 2019 - 05:03
Pepkor chair Jayendra Naidoo received a R120m fee from Steinhoff’s 2016 equity fund-raising deal after his consortium borrowed several billion rand from the state pension fund to participate in the transaction.
The underwriting commission raises questions about the reasons for compensating the former union leader, whose firm’s balance sheet was unable to bear the financial risk entirely taken by the Government Employees Pension Fund (GEPF)...
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