Steinhoff Says U.S. Unit Mattress Firm May Sell Stock in IPO
(Bloomberg) -- Steinhoff International Holdings NV said U.S. bedding chain Mattress Firm is considering a public share listing as a means of returning cash to shareholders.
The move is one of a number of options being weighed and a final decision hasn’t been made, Steinhoff said in a statement on Tuesday.
The South African retailer, which came close to collapse following an accounting scandal in late 2017, has been selling assets to pay down debt and fund legal claims brought by out-of-pocket investors. The company owns a 50.1% stake in Mattress Firm, it said.
Pepco Group NV, a discount clothing retailer primarily focused on Eastern Europe, was brought to market by Steinhoff in May. The firm, which also owns U.K. retailer Poundland, listed shares in Warsaw.
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