trending Market Intelligence /marketintelligence/en/news-insights/trending/8olaldcucllid0vkmzdqsw2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

Report: Steinhoff considers lowering stake in STAR unit

Gauging Supply Chain Risk In Volatile Times

S&P Global Market Intelligence

Cannabis: Hashing Out a Budding Industry


IFRS 9 Impairment How It Impacts Your Corporation And How We Can Help

The Market Intelligence Platform

Report: Steinhoff considers lowering stake in STAR unit

Steinhoff International Holdings NV is looking into selling a portion of its 77% stake, valued at $4.8 billion, in subsidiary Steinhoff Africa Retail Ltd., or STAR, Bloomberg News reported March 20, citing "two people familiar with the matter."

The sale, which would be done through an accelerated bookbuild, will need to be approved by South Africa's financial regulator but it can also be abandoned, the sources told the newswire.

Steinhoff is engulfed in an accounting scandal that led its shares to plunge more than 60% late last year. A company spokesperson reportedly told Bloomberg via email that the company is considering possible options related to its plans of refinancing or redeeming debt financing in its South African operations.

The move can bolster the home furnishing producer's liquidity, the report said, and add to the 3.67 billion South African rand it raised March 13 from the sale of about 17% of its stake in KAP Industrial Holdings Ltd. Steinhoff has also sold its shares in PSG Group Ltd. to raise money.

STAR, which was spun off in September 2017, has committed to refinancing its long-term liabilities to its parent, freeing up more funds for Steinhoff.

As of March 20, US$1 was equivalent to 11.97 South African rand.