JOHANNESBURG (Reuters) - Shareholders of South Africa’s Steinhoff Africa Retail (STAR) have approved changing the company’s name to Pepkor Holdings in a move to further distance the company from its crisis-hit parent, Steinhoff International (SNHJ.J) (SNHG.DE).
Parts of STAR’s business were formally called Pepkor.
The resolution to change the company’s name received 99.9 percent of votes from the shareholders present, STAR said in a statement on Friday.
Steinhoff International has been fighting for survival after revealing accounting irregularities which sent its shares tumbling and sparked panic about the credibility of STAR’s own accounts.
Reporting by Tanisha Heiberg; Editing by Alexander Winning and Louise Heavens