The Public Investment Corporation (PIC) says it has suspended legal proceedings against Steinhoff pending the finalisation of a mediation process.
PIC says it is ready to resume with legal action against Steinhoff should the mediation process between the two entities fail.
Scandal-hit South African retailer Steinhoff International said on Friday it had sold Blue Group, owner of Bensons for Beds and Harveys Furniture, to Alteri Investors for an undisclosed price.
The Democratic Alliance (DA) says a donation from former Steinhoff executive Markus Jooste was made to the party before the company was implicated in a scandal.
The Financial Sector Conduct Authority has imposed an administrative penalty of 53 million rand to retail giant Steinhoff.
The National Prosecuting Authority (NPA) and the Hawks have contradicted one another in parliament regarding access to a Steinhoff audit report on accounting irregularities at the company.
South Africa’s Steinhoff will sell off non-retail assets and cut jobs at its French retail chain Conforama as part of the scandal-hit company’s plan to slim down into an investment holding firm, management said on Tuesday.
Former Public Investment Corporation (PIC) CEO Dan Matjila told the PIC Commission that the losses incurred through the Corporation’s investment in Steinhoff were significant and deeply regrettable.
South African retailer Steinhoff said on Friday that Philip Dieperink will step down as chief financial officer and will be replaced by Theodore de Klerk effective 1 September 2019.
The PIC’s acting head of legal Lindiwe Dlamini took the stand at the PIC commission of Inquiry testifying about the Steinhoff transaction.