Steinhoff's former Chief Executive Officer Markus Jooste sees the retailer’s claim for more than R850m ($56m) against him as "vague and embarrassing", Bloomberg reports.
Steinhoff has agreed to buy UK discount store Poundland for £597m (R11.4bn), which it sees as an attractive addition to its multi-format discount retail business.
Steinhoff has bought 23% of Poundland and is considering a full cash bid for the British no-frills homeware chain in its latest attempt to expand in Europe.
Steinhoff International Holdings has raised its agreed bid for UK discount chain Poundland Group after an activist investor built a stake that threatened to derail the deal.
Any possible offer for Poundland will be made in cash, says Steinhoff, which already bought 23% of the British no-frills homeware chain in its latest bid to expand in Europe.
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