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Johannesburg Stock Exchange deregisters Steinhoff unit's notes

Embattled retailer Steinhoff International Holdings NV said March 9 that its wholly owned indirect subsidiary Steinhoff Services Ltd.'s medium-term note program has been deregistered from the Johannesburg Stock Exchange.

Steinhoff Services applied to the JSE to redeem the notes worth 7.6 billion South African rand in January in a bid to ease its liquidity pressures.

The unit said it does not intend to issue further notes.

As of Mar. 9, US$1 was equivalent to 11.80 South African rand.