Steinhoff 'saga' continues with further asset sales

By Sam Kerr
28 Mar 2019

Steinhoff International continued to dispose of assets this week with a R4.8bn (€293m) sale in KAP Industrial Holdings, the South African industrial company, with the company expected to shed more holding to meet its subsidiaries' funding requirements.

Standard Bank and Investec were bookrunners on the block trade of 694.2m shares on Tuesday night, a 26% stake in KAP.

The troubled South African conglomerate used the proceeds from the sale to meet its various obligations, including, but not limited to, those arising from its announced debt ...

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