Steinhoff report reveals maelstrom of conflicts of interest

2019-05-10 20:12

Steinhoff International was for many years run by a board of tight-knit people, many of whom had done business together for decades.

All eyes on Steinhoff as shares resume JSE trade after public holiday

2019-05-09 06:00

The Stellenbosch-headquartered retail conglomerate published its long-delayed 2017 earnings late on Tuesday.

From golden visas to airplane deals – what we've learned from Steinhoff's 'real' results

2019-05-08 15:52

After long delays, Steinhoff has finally released its restated results from 2017.

We don't have plans to sell off Tekkie Town, says Pepkor as court case looms

2019-04-30 13:13

While a court has ruled that Steinhoff subsidiary Pepkor may not sell off any shares it holds directly or indirectly in Tekkie Town, Pepkor has maintained that it never intended to dispose of any shares.

Steinhoff says French retail unit has raised new money to stabilise firm

2019-04-11 19:25

Steinhoff International Holdings said its French furniture retail unit Conforama Holdings SA has raised a total of about $356 million to ensure the stability of its capital structure and operations after debt rose and revenue fell.

Steinhoff appoints risk officer

2019-04-07 16:51

Steinhoff announced in a Stock Exchange News Service statement that it has appointed a chief compliance and risk officer.

Steinhoff execs resign from KAP board

2019-04-04 15:25

Following the reduction of Steinhoff's 26% indirect stake in KAP Industrial Holdings, its executives on the KAP board tendered their resignations.

Steinhoff reaches agreement to sell shares in car dealer network Unitrans

2019-03-28 09:36

Steinhoff announced on Thursday that it had reached an in-principle agreement to sell 74.9% of Steinhoff Africa’s shares in automotive dealer network Unitrans.

Steinhoff to sell off stake in KAP to pay debt

2019-03-26 17:31

Steinhoff intends to sell over 600 million of its shares in KAP Industrial Holdings in an accelerated book build which would raise funds needed for it to meet its various obligations.

Steinhoff, Bosasa et al: When bad business is bad for business

2019-03-21 07:00

If doing bad business is bad for business, think what a dose of good business ethics can do for the economy in the wake of a slew of corporate scandals, says Anton Ressel.


Steinhoff falls 15% as market reacts to glum 2017 earnings report

2019-05-09 12:25

The Stellenbosch-headquartered retail conglomerate published its long-delayed 2017 earnings late on Tuesday.

A €4bn net loss and dubious bonuses – 7 key highlights from Steinhoff's 'midnight special' results

2019-05-08 17:30

Steinhoff published its long-awaited audited annual report for 2017 just before midnight on Tuesday. From ongoing criminal investigations to questionable bonuses amid major losses, these are the seven key highlights.

Steinhoff paints gloomy outlook as 2017 losses shrink asset pool

2019-05-08 07:01

Steinhoff expects more doom and gloom to follow the release of its long-awaited 2017 earnings in which the retailer saw the value of its assets shrink.

Former Tekkie Town owner questions PwC 'extreme coyness' in Steinhoff report

2019-04-18 07:30

Why was PwC "extremely coy" about naming names in its recent Steinhoff forensic overview, asks former Tekkie Town CEO Bernard Mostert in a court document.

Steinhoff was a 'good buy' for PIC at the time, witness tells inquiry

2019-04-09 13:44

The Public Investment Corporation regarded Steinhoff shares as a good buy when it extended R9.35bn to empowerment group Lancaster 101 to buy shares in the retail conglomerate in 2016.

Steinhoff delays publication of audited financial statements

2019-04-05 11:05

The multinational retailer has announced it will delay the publication of it audited financial statements due to the complexity of the accounting and audit work required.

Steinhoff's Unitrans is said to be worth up to R4 billion

2019-03-29 08:53

Steinhoff's Unitrans Motor Group, which the embattled retailer is in talks to sell, may be valued at as much as $280m (R4bn at current exchange rates), according to people familiar with the matter.

Steinhoff raises R4.8bn in share sale

2019-03-27 09:50

Steinhoff managed to raise R4.8bn by placing over 600 million of its shares in KAP Industrial Holdings on offer.

Hawks say they are waiting 'anxiously' for access to PwC report into Steinhoff

2019-03-22 14:13

The 3000-page forensic probe into accounting fraud was given to Steinhoff leadership by PwC earlier in the month.

Markus Jooste wall of shame tagged again?

2019-03-19 17:16

In Markus Jooste's hometown of Hermanus, the former Steinhoff chief executive was given a rude awakening right on his doorstep.

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