Re: Steinhoff International Holdings N.V. (SNH)
Benko has offered 450 million euros ($532 million) for Austrian
Steinhoff SNHG.DE unit Kika/Leiner, daily Die Presse
reported on Thursday.
The offer expired at 1130 GMT, the paper said, citing
sources familiar with the issue. Daily Oe24 said earlier that
Benko was offering around 500 million euros.
Benko, who according to his website owns a 12 billion euro
real estate portfolio and generates annual revenue of 4 billion
euros with retail businesses via his Signa Holding, was not
immediately available for comment
Kika/Leiner, which has annual sales of around one billion
euros, was also not available for comment.
Steinhoff revealed holes in its accounts six months ago,
shocking investors who had backed its reinvention, sending its
shares crashing and leaving it scrambling to pay its debts.
On Tuesday, its creditors agreed to give it more time to
restructure 9 billion euros ($11 billion) in debt. Holders of
2.7 billion euros in three convertible bonds backed a debt
standstill agreement, the company said.
The South African retailer is listed in Johannesburg and
Frankfurt but its parent is incorporated in the Netherlands.