ANC welcomes appointment of De Ruyter as Eskom CEO
Business
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Crisis-hit Steinhoff says 9-month sales rise 2%
Steinhoff was thrown a lifeline last month when its creditors agreed to delay debt claims for three years after the multinational retailer uncovered accounting irregularities.
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Hawks' capacity to deal with Steinhoff probe questioned
Specialised Commercial Crimes head Alfred Khana on Wednesday night told MPs that he was still waiting for a sworn statement related to the criminal complaint filed by the company eight months ago.
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MPs unhappy with answers given by Steinhoff chairperson
Heather Sonn has been updating members of four parliamentary committees on the status of the group, including its efforts to stabilise its debt and retain its JSE listing.
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Steinhoff takes $12bn write-down after accounting scandal
The write-down is the latest setback for the multinational retailer, which has been fighting to stay afloat since it revealed holes in its accounts last December.
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Cele: Hawks probing multiple cases in Steinhoff scandal
The charges are under the Corrupt Activities Act and relate to theft, fraud, extortion and forgery, among others.
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Investor Benko strikes deal to buy Steinhoff's Austrian unit
Steinhoff revealed holes in its accounts six months ago, shocking investors who had backed its reinvention, sending its shares crashing and leaving it scrambling to pay its debts.
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[LISTEN] How did Markus Jooste fool Steinhoff investors?
Talk Radio 702’s Bruce Whitfield spoke to RECM chairperson Piet Viljoen about his online piece analysing the former Steinhoff CEO’s character.
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IRBA: Steinhoff probe likely to be biggest job ever
The investigation has also highlighted the regulator’s limited financial resources to deal with its hefty caseload.
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[LISTEN] Christo Wiese sues Steinhoff for R59bn
Christo Wiese say although he was chairman of Steinhoff, he could not have known all that was going on and has lost a lot of investment money.
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Christo Wiese calls for forensic probe into Steinhoff
Christo Wiese has announced that his Titan Group is suing Steinhoff for R59 billion to recover money invested in the company in 2015 and 2016.
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Former chairman Wiese sues Steinhoff for R59 billion
These claims relate to cash investments made by the Titan Group in Steinhoff in 2015 and 2016 and involve both Steinhoff in the Netherlands and here on home soil.
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Steinhoff settles lawsuit in Germany over ownership of retailer POCO
Steinhoff said that Andreas Seifert entities offered to buy a 50% stake in POCO based on an agreed equity valuation of 532.5 million for the whole business.
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Steinhoff’s former CEO Jooste gets creditor reprieve
The out-of-court settlement comes after lenders Investec, ABSA and financial group Sanlam had turned to the Cape High Court to liquidate one of the entities that hold Markus Jooste’s wealth.
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Deloitte to continue as Steinhoff’s external auditors
A massive forensic investigation by PwC has uncovered a pattern of transactions that led to the material overstatement of income and asset values of the group.
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PwC probe into Steinhoff found pattern of overstatement of income, asset values
The embattled global retailer’s annual general meeting is underway in Amsterdam in the Netherlands, with proceedings being live-streamed to the Cape Town International Convention Centre.
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Heather Sonn: Steinhoff's key priority to maintain stability
Heather Sonn is addressing the global retailer’s AGM in Amsterdam, in the Netherlands. The proceedings are being live-streamed to the Cape Town international Convention Centre.
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Johan van Zyl resigns from Steinhoff board
At the same time, Imperial holdings CEO Mark Lamberti has thrown in the towel just days after stepping down from the boards of Eskom and Business Leadership South Africa.
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Steinhoff raises $314m from stake sale in African unit to help cut debt
The company said it sold 200 million shares via an accelerated bookbuild, reducing its holding to 71.01%.
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Steinhoff sells 6% of African unit
Its present 77% stake in Steinhoff Africa is worth R50 billion ($4.17 billion) and the deal could bring in about R4 billion, bankers said.
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Steinhoff accused of ‘malicious compliance’ over Jooste complaint
Steinhoff’s attorney Robert Driman of Werksmans denied the accusation, saying there was no 'open and shut case' to hand over.
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Jooste to be subpoenaed to appear before Parliament after no-show
Former Steinhoff chief financial officer Ben le Grange is to be given 10 days to confirm that he will also appear or he too will be summonsed.
