Steinhoff Chief Executive Officer Louis du Preez addresses a presentation to investors in Cape Town, South Africa, August 13, 2019.said on Friday it had sold Blue Group, owner of Bensons for Beds and Harveys Furniture, to Alteri Investors for an undisclosed price.
“The sale of Blue Group is the latest in a series of planned divestments by Steinhoff as we continue with our announced strategy of simplifying the group’s portfolio and deleveraging our balance sheet,” Steinhoff CEOThe company, which added the transaction was subject to regulatory approvals, did not disclose its value. Blue Group was a relatively minor part of Steinhoff’s operation, contributing just under 5% of revenues in the six months ended March 31.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Ireland Ireland Latest News, Ireland Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
A united South Africa more important than anything else: Erasmus - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.Outgoing Springbok coach Rassie Erasmus says that winning the Rugby World Cup softens the blow of having to step down from his role. The 47-year-old is set to move back to his full-time job of Director of Rugby, having been standing in over the past two years as coach of the team.
Source: SABC News Online - 🏆 32. / 51 Read more »
Pitso shocked by Benni axing - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.Pitso shocked by Benni axing Mamelodi Sundowns coach Pitso Mosimane says he is shocked at the axing of Benni McCarthy by Cape Town City, saying the former Bafana Bafana striker was an inspiration to all coaches in the country.
Source: SABC News Online - 🏆 32. / 51 Read more »
SAA strike under way countrywide - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.There is a strong police presence at the SAA headquarters in Kempton Park, east of Johannesburg, where striking workers affiliated to Numsa and the Cabin Crew Association have started to picket.
Source: SABC News Online - 🏆 32. / 51 Read more »
Satawu may join SAA strike - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.The South African Transport and Allied Workers Union says it may join the ongoing strike at South African Airways if its members support the decision. This comes after SAA workers downed tools to demand an 8% salary increase.
Source: SABC News Online - 🏆 32. / 51 Read more »
Mrwetyana's family thanks justice system - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.The family of murdered UCT student, Uyinene Mrwetyana, has thanked the police and justice system following the handing down of three life sentences to the man convicted of her rape and murder.
Source: SABC News Online - 🏆 32. / 51 Read more »