Steinhoff Africa Retail Dismisses Alleged Claim Over Tekkie Town Acquisition
17 May 2018 - 01:46AM
Dow Jones News
By Adam Clark
Steinhoff Africa Retail Ltd. (SRR.JO) said on Wednesday that it
hasn't received any legal documents relating to an alleged claim
from the founders and former shareholders of South African shoe
retailer Tekkie Town over an earn-out agreement.
Steinhoff Africa Retail said that based on legal advice, it
believes it isn't party to any earn-out agreement and there is no
reasonable prospect of it being held liable.
In 2016, Steinhoff International Holdings NV (SNH.JO) acquired
Tekkie Town for an undisclosed amount. Tekkie Town was subsequently
transferred to Steinhoff Africa Retail.
Write to Adam Clark at adam.clark@dowjones.com
(END) Dow Jones Newswires
May 16, 2018 11:31 ET (15:31 GMT)
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