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Steinhoff completes sale of Kika/Leiner property assets to Signa

Steinhoff International Holdings NV said Oct. 15 that it completed the sale of its Kika/Leiner property holding companies to Austrian real estate investment company SIGNA Holding GmbH.

The troubled South African retailer said that the transaction is the final step in the sale of Kika/Leiner after it completed the sale of Kika/Leiner operating companies earlier this year.

Steinhoff decided to sell the unit after credit insurers withdrew coverage to the company's suppliers in June.