Steinhoff looks to sell non-core assets worth R160bn

JOHANNESBURG – Retail holding group Steinhoff said on Thursday it had received expressions of interest in non-core assets which would release a minimum of €1billion (R160 873 65 486) of liquidity into the company.

In a statement released through the JSE exchange’s information service on Thursday, Steinhoff also said there was no evidence to suggest CFO Ben La Grange was involved in accounting irregularities that saw CEO Markus Jooste resign, triggering a heavy sell-off of Steinhoff shares.

“The company wishes to provide additional comfort on the company’s liquidity. In this regard, the company has today received expressions of interest in certain non-core …read more