Steinhoff shares surge as it raises settlement offer
The retailer still has to face former Tekkie Town shareholders who have applied for its liquidation
Steinhoff International has increased the settlement offer it made to convince litigants to drop claims against it, saying it has achieved a better financial performance recently.
The retailer has increased its offer in exchange for litigants dropping their claims by just more than €200m so that the offer rises to €1.2bn, up from a proposed €943m earlier in 2021. The settlement includes money and Pepkor shares. ..