Steinhoff rejects allegations of dishonest accounting amid German probe
Steinhoff International Holdings rejected allegations of dishonesty made in a Manager-Magazin report that CEO Markus Jooste is being investigated.
Steinhoff International Holdings rejected allegations of dishonesty made in a Manager-Magazin report that CEO Markus Jooste is being investigated.
Steinhoff’s Johannesburg-listed shares declined the most in nine years after Manager-Magazin reported that Chief Executive Officer Markus Jooste is among employees being investigated by German prosecutors in a 2015 case tied to possible accounting fraud.
Markus Jooste’s decentralised, supportive approach gives him a better than average change of success in the United States.
Shoprite and Steinhoff announced that they will no longer pursue their proposed merger, as the parties involved could not reach agreement on the share exchange ratio.
Steinhoff and Shoprite are in talks to combine their African retail businesses in a deal that left some investors complaining about its complexity and a shortage of details.
Mining veteran Neal Froneman is hard at work selling Sibanye’s effective offer of $2.7bn to buy Stillwater Mining Company of Montana.
Steinhoff plans to raise as much as $2.7 billion by selling shares to repay the money it borrowed for recent acquisitions.
Steinhoff International raised its agreed bid for U.K. discount chain Poundland, after an activist investor built a stake that threatened to derail the deal.
Shareholders are clearly nervous that in its haste, Steinhoff might overpay for Mattress Firm – and be forced to repent at leisure.
Steinhoff’s R52bn bid for US-based Mattress Firm sets Christo Wiese up for the best 75th birthday present any super entrepreneur could ask for.