Twenty-three racehorses in the stable of former Steinhoff boss Markus Jooste will be sold in Cape Town on Thursday. The sale‚ in the parade ring at Kenilworth racecourse‚ is the first auction of horses owned by Mayfair Speculators since Jooste quit as CEO of Steinhoff International Holdings in early December after the discovery of suspected financial wrongdoing. Absa will apply for the liquidation of Mayfair in the High Court in Cape Town on April 30 but agreed late in December that the company could continue racing and selling its horses in the meantime. Mayfair’s horses included in the catalogue for Thursday’s Central Route Trading sale include the gelding Silver Coin‚ which set a South African record when he was bought for R6m at the 2016 Cape Premier Yearling Sale. Mayfair has sold other horses privately since Jooste quit Steinhoff amid an accounting scandal that wiped $14bn off the retailer’s market value. Edict Of Nantes was sold to Hong Kong owners for a reported price of jus...

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, ProfileData financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.

Questions or problems? Email or call 0860 52 52 00. Got a subscription voucher? Redeem it now