Steinhoff International to Spin off Its Africa Businesses

Source: Bloomberg, Thursday, May 18, 2017

Steinhoff International plans to list its African assets separately following this year’s failed merger talks with South Africa’s Shoprite. The company said that it will seek to list businesses including clothing retailer Pepkor and furniture chain JD Group on the Johannesburg Stock Exchange, about 18 months after moving its primary listing to Frankfurt from the South African commercial hub. Steinhoff will retain a controlling interest in the new company.