Steinhoff

Steinhoff ex-CEO’s Ally Joins Roll Call of Corporate Pariahs

Posted on by The Editorial Team
Steinhoff ex-CEO’s Ally Joins Roll Call of Corporate Pariahs

JOHANNESBURG (Capital Markets in Africa) – After three decades behind the scenes, Stehan Grobler is now in the spotlight. Having met former Steinhoff International Holdings NV Chief Executive Officer Markus Jooste three decades ago, 59-year-old Grobler went on to serve as a long-standing executive while the retailer expanded across the world. But when an accounting scandal erupted at the South African company in December, the lawyer was left exposed. Last week, Grobler became one of just three people to have been…

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Steinhoff Boosts Fund-Raising to $1.4 Billion in KAP Sale

Posted on by The Editorial Team
Steinhoff Boosts Fund-Raising to $1.4 Billion in KAP Sale

JOHANNESBURG (Capital Markets in Africa) – Steinhoff International Holdings NV boosted the amount raised from asset sales to about $1.4 billion as the embattled global retailer strives to shore up its balance sheet. The owner of Conforama in France and Mattress Firm in the U.S. sold almost 3.7 billion-rand ($313 million) of shares in South Africa’s KAP Industrial Holdings Ltd., adding to disposals including stock in investment holdings company PSG Group Ltd. and a private jet….

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