Steinhoff shares surge as it raises settlement offer
The retailer still has to face former Tekkie Town shareholders who have applied for its liquidation
16 July 2021 - 19:46
UPDATED 18 July 2021 - 17:02
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. ..
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