Steinhoff says considering all options to help cut debt

Steinhoff says considering all options to help cut debt
FILE PHOTO: Two Mattress Firm stores lie on either side of the street in Encinitas, California,
JOHANNESBURG (Reuters) - Crisis-hit South African retailer Steinhoff said on Tuesday it is considering "all of its options" in order to support its liquidity after a report on Monday that the retailer could sell a stake in its African unit.

The sale of shares in Steinhoff Africa Retail, in which Steinhoff owns a 77 percent stake, would come through an accelerated bookbuild, Bloomberg said, quoting unnamed sources familiar with the matter.

(Reporting by Nqobile Dludla; Editing by James Macharia)

2018-03-20 10:28:06

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