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Steinhoff said its struggling French furniture retail unit Conforama raised about $357m to help fund the business amid a mounting debt load.
The former owners and management of Tekkie Town yesterday launched an urgent application in the Western Cape High Court against Steinhoff and its subsidiary Pepkor.
Pressure mounted over the weekend on the man who oversees day-to-day running of South Africa’s ruling political party, Ace Magashule.
Steinhoff pushed back the dates for the publication of audited earnings for 2017 and 2018 after the findings of a forensic probe by PwC made the process more time consuming and complex.
Steinhoff has successfully placed the KAP shares at a price of R6.85 per placing share raising total gross proceeds of R4.8bn.
Steinhoff’s former chief financial officer is working with authorities as they investigate questionable transactions that brought the global retailer to the brink of collapse.
There are two sets of rogues that South Africans are desperate to see behind bars: Zuma and his acolytes, and the Steinhoff bosses.
Yesterday in SA’s Parliament, newly appointed CEO of Steinhoff, former Werksmans senior partner Louis du Preez, reluctantly named eight people involved in the gigantic corporate Ponzi scheme.
Steinhoff identified eight people, including former CEO Markus Jooste, as those allegedly behind questionable transactions that brought the global retailer to near-collapse.
The Hawks are also seeking mutual legal assistance and has engaged several regulators, such as the Reserve Bank and Financial Sector Conduct Authority.