Steinhoff International Holdings NV (SNHG.DE)
18 Jul 2018
JOHANNESBURG/FRANKFURT July 18 Steinhoff extended for a second time on Wednesday the "early bird fee" deadline for creditors to sign a three-year agreement to hold off their debt claims, as the scandal-hit South African retailer battles to stay afloat.
JOHANNESBURG, July 18 Steinhoff extended its "early bird fee" deadline for the second time on Wednesday for creditors to sign a three-year agreement to hold off their debt claims, as the scandal-hit South African retailer battles to stay afloat.
JOHANNESBURG South African retailer Steinhoff said it has booked $12 billion in charges related to accounting irregularities discovered last year, as it reported a widened half-year loss.
* Writedowns relates mostly to past inflated asset values, profits
JOHANNESBURG South African tycoon Christo Wiese sold part of his stake in grocer Shoprite on Wednesday, raising 3.6 billion rand ($264 million) and shoring up his finances, which were dented by his exposure to scandal-hit Steinhoff.
June 22 The following bids, mergers, acquisitions and disposals were reported by 1330 GMT on Friday: ** Brazil's antitrust watchdog Cade approved buyout firm Advent International's acquisition of Walmart Inc's Brazilian operations, and sought no additional asset sales. ** Shares in British satellite operator Inmarsat leapt after its U.S. suitor EchoStar disclosed stakes in the London-listed company's equity and debt. ** Crisis-hit Steinhoff will sell Austrian property assets valued a
BENGALURU/ JOHANNESBURG Crisis-hit Steinhoff will sell Austrian property assets valued at 490 million euros ($570 million) to tycoon Rene Benko's Signa Holding, it said on Friday, the latest sale by the South African retailer following an accounting scandal.
* Steinhoff hopes to clinch debt deal by end of June (Adds details)
June 22 South African retailer Steinhoff International Holdings N.V. said it had agreed to sell Kika/Leiner furniture and household goods retail unit to Austrian property and retail investor Rene Benko's Signa Holding GmbH for a "nominal amount".
* Contract details to be fixed within the next days (Adds confirmation from Steinhoff, detail, background)