DGAP-Adhoc
Steinhoff International Holdings N.V. : THE POTENTIAL LISTING OF STEINHOFF'S AFRICAN RETAIL ASSETS ON THE JSE LIMITED AND CAUTIONARY ANNOUNCEMENT
DGAP-Ad-hoc: Steinhoff International Holdings N.V. / Key word(s): Miscellaneous
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Disclosure of inside information in accordance with Article 17 MAR, transmitted by DGAP, a service of EQS Group AG
THE POTENTIAL LISTING OF STEINHOFF'S AFRICAN RETAIL ASSETS ON THE JSE LIMITED AND CAUTIONARY ANNOUNCEMENT
1. Introduction
Shareholders of Steinhoff International Holding N.V. ("Steinhoff" or "Company") are hereby advised that the Company is evaluating and initiating steps to establish the separate listing of its African retail businesses on the main board of the JSE Limited ("JSE") (the "Listing").
Prior to the Listing, Steinhoff will consolidate its African retail businesses, with assets including Pepkor South Africa and rest of Africa, JD Group, Unitrans Automotive, Steinbuild, Poco South Africa and Tekkie Town (collectively, "Steinhoff Africa Retail Assets"), under a single holding company ("ListCo").
The Steinhoff Africa Retail Assets are comprised of highly recognisable retail brands that have an extensive retail footprint and impressive growth track-record, both in South Africa and the rest of Africa.
2. Rationale
Steinhoff will continue to own a controlling interest in ListCo and it is the vision of Steinhoff to create a diversified multi-format listed retail company of significant size and scale with its roots in Africa.