Wiese: Forensic report will reveal what went wrong at Steinhoff

2018-07-20 19:50

Former Steinhoff board chairperson Christo Wiese said that the forensic investigation into the global retailer would ultimately reveal how accounting fraud took place.

Steinhoff Africa seeks to limit Pepkor share plan damage

2018-07-15 19:30

Steinhoff Africa Retail will be advised by the end of next month how much it may need to pay to settle a controversial management-incentive plan devised by Pepkor.

CEO pay at SA's 10 biggest companies rises to R24.9 million

2018-07-12 11:59

A new report by PwC also found that only 2.2% of the CEOs at JSE-listed companies were women.

THE STEINHOFF SAGA: Part four - Five lessons we can't afford to ignore

2018-07-05 07:15

It's too early to say how the fall of Steinhoff will eventually play out. Nonetheless, it's possible to distil some key learning points from the Steinhoff case.

THE STEINHOFF SAGA: Part three - Crimes of entitlement

2018-06-30 09:00

In a series of in-depth features, the University of Stellenbosch Business School sheds light on Steinhoff's remarkable growth – and spectacular collapse. This is part three: when charismatic leaders turn corrupt.

Steinhoff posts R2.4 billion operating loss for first half of financial year

2018-06-29 18:52

The embattled furniture and retail giant posted a R2.4bn operating loss for the first half of the current financial year, up from a loss of €44 over the corresponding previous period.

Hawks investigating three cases of fraud at Steinhoff, its subsidiaries

2018-06-29 15:34

Police Minister Bheki Cele has confirmed that the Hawks are investigating three cases related to allegations of fraud at Steinhoff and its subsidiaries.

Markus Jooste profited big time from Steinhoff land deal, filings show

2018-06-22 13:37

In a set of property deals reviewed by Bloomberg, companies linked to former CEO Markus Jooste and Steinhoff associates profited by hundreds of millions of rand between 2002 and 2007.

Steinhoff sells loss-making Austrian unit to Rene Benko's Signa

2018-06-15 10:10

Steinhoff has agreed to sell its Austrian furniture retailer Rudolf Leiner GmbH and real estate assets to billionaire Rene Benko’s Signa to prevent looming insolvency of the unit.

Steinhoff Africa Retail confirms summons from Tekkie Town founders

2018-06-04 17:45

STAR has again said that it is still of the view that it is 'not a party to any such earn out agreement'.

 

Steinhoff wins creditor support for debt restructuring plan

2018-07-19 18:00

Steinhoff International won support from a majority of creditors to restructure its debt.

Steinhoff shares have nearly doubled in 5 days - and one investor expects a violent move

2018-07-12 15:07

Steinhoff is the third most shorted stock on the market.

Steinhoff bought forests linked to executives at inflated prices

2018-07-10 08:22

A company linked to executives of Steinhoff bought South African forestry plantations and then sold them for five times their original value.

Steinhoff said to gauge interest in European retailer Pepco

2018-07-03 21:12

Steinhoff is allegedly gauging takeover interest in businesses including clothing chain Pepco, as the scandal-hit retailer prepares for the next phase of a recovery plan.

Creditor groups extend support to Steinhoff subsidiaries

2018-06-29 17:06

The embattled retail group announced that two of its European subsidiaries had received three-week debt repayment lifelines from creditor groups.

Billionaire Christo Wiese cuts Shoprite stake to free up about R3.8bn

2018-06-27 09:13

Billionaire Christo Wiese will reduce his stake in Africa’s biggest supermarket chain by about R3.8bn as the businessman most stung by the near collapse of Steinhoff boosts his liquidity.

THE STEINHOFF SAGA: Part one - The making of a corporate giant

2018-06-19 20:07

In a series of in-depth features, the University of Stellenbosch Business School sheds light on Steinhoff's remarkable growth – and spectacular collapse. This is Part One: from humble beginnings in Germany to a massive global holding company.

Deloitte reviewing summons over Steinhoff audit

2018-06-13 15:18

The Deloitte branch in the Netherlands has received a writ of summons from Dutch investor group VEB over its audit of Steinhoff.

No foul play in dividend to transfer Lodestone shares - Jooste son-in-law

2018-05-22 22:00

The declaration of a dividend in specie (a distribution in a form other than cash) – which included the transfer of Lodestone shares from Mayfair Speculators to Mayfair Holdings – was above board, says Stefan Potgieter.

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