Steinhoff may issue shares to settle multibillion-rand lawsuits
The embattled retailer is facing a series of lawsuits from former business partners and aggrieved shareholders
08 November 2019 - 10:38
Steinhoff is considering issuing shares as part of its effort to settle multibillion-rand lawsuits related to an accounting fraud that left it fighting for survival.
Steinhoff uncovered a €6.5bn (about R110bn) hole in its accounts in 2017, causing a share collapse and multiple lawsuits from former business partners and aggrieved shareholders, including former chair Christo Wiese.
BL Premium
This article is reserved for our subscribers.
A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, Morningstar financial data, and digital access to the Sunday Times and Times Select.
Already subscribed? Simply sign in below.
Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00.