Steinhoff grinds towards a conclusion
The jury is still out as to whether four claimants will scupper a R24bn deal that might finally put the past behind it
With just one court case left to go, Steinhoff is within inches of a settlement that may put the fallout from Markus Jooste’s years of "financial irregularities" behind it.
Facing lawsuits in Europe and SA from thousands of shareholders who lost a collective R200bn in the country’s biggest fraud, Steinhoff has spent two years in "extensive efforts" to reach a settlement. In the process, it has garnered support from thousands of claimants for a deal, worth R24bn in cash and Pepkor stock, that should stop it collapsing under the weight of court cases...