Meet Markus Jooste: Our in-depth interview with former Steinhoff CEO
Although he made obligatory media appearances after each set of Steinhoff’s financial results, Markus Jooste wasn’t one for interviews.
Although he made obligatory media appearances after each set of Steinhoff’s financial results, Markus Jooste wasn’t one for interviews.
Elliott Associates has acquired 16.37% of Poundland, according to a filing on Friday. That makes what looked like a tidy deal for Steinhoff into a much more messy affair.
Poundland, the discount store, recommended a cash offer of 222 pence per share from Steinhoff, valuing it at just under 600 million pounds ($795 million).
Steinhoff bought a 23 percent stake in no-frills retailer Poundland and was considering a full cash bid, the company said on June 15.
In between his Stellenbosch home, the Amsterdam HQ and visiting offices worldwide, in London yesterday, Steinhoff CEO Markus Jooste squeezed in an hour to update Alec Hogg on proceedings.
In quick succession, Steinhoff has turned its back first on Home Retail Group and now Darty. The South African retailer should waste no more time barging into other peoples’ bids. It should buy BHS instead.
Sainsbury has been given more time to make a firm bid for Argos-owner Home Retail, after a possible higher rival offer from Steinhoff International emerged on Friday.
SA’s Christo Wiese (74) and Markus Jooste (55), who merged their companies into Steinhoff, are determined to flex their combined muscle in the global arena.