Steinhoff shares jump 29% after upping of global settlement offer
Company increases amount by R3.21bn in bid to end more than 100 legal claims against it
11 August 2021 - 11:23
Steinhoff International, which lost about R200bn in market value in SA’s worst corporate fraud, has increased its global settlement offer in its latest bid to attract sufficient support to end more than 100 legal claims being waged against it.
The beleaguered global furniture retailer, whose future hangs in the balance, on Wednesday increased its global settlement offer by a further R3.21bn. The settlement was increased to €1.23bn (R21.48bn) in July, up from the initial offer of €943m...
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