As integrated retailer Steinhoff International reaches what industry pundits are describing as "critical mass", the separate listing of its operations might leave the group's furniture assets on the chopping block. Steinhoff, the world's third-largest integrated household-goods retailer by turnover, has more than 40 brands and 12,000 retail stores in 30-plus countries. But the complex retailer's acquisitive strategy have market commentators worried about the group's organic growth. Arqaam Capital director of equity research Michael Jacks said that while Steinhoff viewed the Steinhoff Africa Retail's (STAR) assets as core, "the furniture assets in South Africa may be the exception". The Competition Commission may require that they dispose of these before approving the acquisition.

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