FILE PHOTO: South African magnate Christo Wiese, whose companies include Steinhoff and investment heavyweight Brait, gestures during an interview in Cape Town, South Africa, September 27, 2016. REUTERS/Mike Hutchings
March 18, 2019
JOHANNESBURG (Reuters) – Former Steinhoff chairman and top shareholder Christo Wiese is open to negotiations over his 59 billion rand ($4.08 billion) claim against the scandal-hit company, he said on Monday.
“Everybody knows, the company does not have that kind of money, so our approach has been that the only way forward is for all the stakeholders to sit around the table and reconstruct the company,” Wiese told Reuters.
The South African retailer said on Friday that an independent report had found it had overstated profits over several years in a $7.4 billion accounting fraud involving a small group of top executives and outsiders.
(Reporting by Tiisetso Motsoeneng)
