Steinhoff

"I lost a business that I built over 50 years through fraud," Wiese said. Photo: Getty Images I lost a business that I built over 50 years throu Steinhoff's former chairperson, Christo Wiese, says the company's move to settle a raft of legal claims against it is a step in the right direction.Steinhoff has proposed…

By making a proposed settlement deal, Steinhoff is effectively inviting claimants to the poker table, says analyst David Shapiro.Steinhoff announced a settlement proposal to resolve about 90 separate multi-jurisdictional market purchase claims.The offer could result in up to about R5.1bn being paid in settlement of these market purchase claims.By making a proposed settlement deal, Steinhoff…

Steinhoff says it has developed a settlement proposal to resolve the "complex, multi-jurisdictional claims" that run into billions of rands against it. The 90 separate claims stem from the precipitous plunge in the group's share price in the wake of the abrupt resignation of its former CEO Markus Jooste at the start of an accounting scandal…

Steinhoff will be selling its stake in Conforma France, one of its largest European subsidiaries. It will also be selling 18 properties occupied by Conforma France for the equivalent of about R1.3 billion.According to Steinhoff, Conforama France will receive new funding in two tranches as part of the agreement.Steinhoff has announced that it will be selling its…

Steinhoff International Holdings rose the most in almost three months after the retailer confirmed it’s working on ways to settle 10 billion euros (R192 billion) of legal claims following an accounting scandal that almost destroyed the company.The stock climbed as much as 26% in Frankfurt on Monday, its biggest increase since mid-April, before paring the…