Squabbling over the Steinhoff carcass
Talk of asset sales has helped electrify Steinhoff’s share price of late. But there are many debts to be paid
13 February 2020 - 05:00
The recent run in the Steinhoff share price — an 80% jump over a few days, to an eight-month high of R1.62 — has been powered by speculation that the group is in talks to sell its European chain, Pepco, for a cool R86.5bn.
Steinhoff’s head of investor relations, Tyrrel Murray, wouldn’t confirm the speculation, but referred the FM to a "progress update" issued in November, in which Steinhoff was "considering" a range of strategic options for the Pepco group — including a potential public listing...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.