Steinhoff International to separately list African retail assets on JSE

PUBLISHED: Wed, 17 May 2017 18:26:21 GMT
Share

FRANKFURT May 17 (Reuters) – South African retail group Steinhoff on Wednesday said it was kicking off a process to separately list its African retail businesses on the Johannesburg stock exchange.

Prior to listing, it will consolidate its African retail businesses, with assets including Pepkor South Africa and rest of Africa, JD Group, Unitrans Automotive, Steinbuild, Poco South Africa and Tekkie Town.

Steinhoff said it would continue to hold a controlling stake in the unit following the listing, which will include a capital increase and be completed in the third quarter of 2017. (Reporting by Christoph Steitz; Editing by Arno Schuetze)

Sign Up for Our Newsletter Daily Update
Get the best of CNBC Africa sent straight to your inbox with breaking business news, insights and updates from experts across the continent.
Get this delivered to your inbox, and more info about about our products and services. By signing up for newsletters, you are agreeing to our Terms of Use and Privacy Policy.