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.
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