Shareholders approve Steinhoff Africa Retail name change

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JOHANNESBURG   –     Shareholders of South Africa’s Steinhoff Africa Retail (STAR) have approved changing the company’s name to Pepkor Holdings in a move to further distance the company from its crisis-hit parent, Steinhoff International.

Parts of STAR’s business were formally called Pepkor.

The resolution to change the company’s name received 99.9 percent of votes from the shareholders present, STAR said in a statement on Friday.

Steinhoff International has been fighting for survival after revealing accounting irregularities which sent its shares tumbling and sparked panic about the credibility of STAR’s own accounts.

JOHANNESBURG (Reuters) – Shareholders of South Africa’s Steinhoff Africa Retail (STAR) have approved changing the company’s name to Pepkor Holdings in a move to further distance the company from its crisis-hit parent, Steinhoff International.

A Mattress Firm store, a brand owned by Steinhoff, is shown in Encinitas, California, U.S., January 25, 2018. REUTERS/Mike Blake/File Photo

Parts of STAR’s business were formally called Pepkor.

The resolution to change the company’s name received 99.9 percent of votes from the shareholders present, STAR said in a statement on Friday.

Steinhoff International has been fighting for survival after revealing accounting irregularities which sent its shares tumbling and sparked panic about the credibility of STAR’s own accounts.(Reuters)

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