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..., where Wiese had been chair....
...Not for nothing is Steinhoff’s biggest backer and erstwhile chairman Christo Wiese known in the South African press as “the former billionaire”....
...It left Brait, the investment company controlled by South African billionaire Christo Wiese, holding less than a fifth of the equity....
...The FT reported in December that a group of banks including Bank of America, Citigroup are facing potential losses on a total of €1.6bn lent to the then Steinhoff chairman Christo Wiese in September 2016...
...The company, whose biggest shareholder is the Brait investment vehicle controlled by South African billionaire Christo Wiese, reported £402m of charges, largely related to its move private some years ago...
...The fateful reunion with Mr Wiese came two decades later, in 2014, with the $5.7bn deal to acquire Mr Wiese’s Pepkor retail chain....
...Mr Wiese initially stepped in as interim executive chairman after the departure of Markus Jooste, the former boss who apologised in correspondence with close associates for making “some big mistakes” that...
...Chairman Christo Wiese, one of South Africa’s richest men, took over as interim executive chairman on Wednesday....
...Since then Christo Wiese, the South African tycoon and major Steinhoff shareholder, has also left the board “in order to reinforce the independent governance of the company”....
...Mr Wiese’s stake is presently worth about €678m, well below the value of the loan....
...Thursday: Wiese, the company's largest shareholder who stepped in as interim executive chairman as the crisis unfolded, resigned....
...The end of the talks marks a blow to the dealmaking ambitions of Steinhoff, which is known as “Africa’s Ikea”, to become a major international retailer....
...Last year, Christo Wiese, the South African retailer and major shareholder in Steinhoff, acquired majority stakes in Virgin Active, the fitness group, and New Look, the UK clothing chain....
...A deal for Poundland would mark Steinhoff’s first successful European deal this year, after having failed in its attempt to acquire French retailer Darty and Argos owner Home Retail Group....
...Last year, South African billionaire Christo Wiese, Steinhoff’s largest shareholder, acquired majority stakes in Virgin Active, the fitness group, and New Look, the UK clothing chain....
...A deal for Poundland would mark Steinhoff’s first success in European dealmaking this year, after failing to acquire French retailer Darty and Argos owner Home Retail Group....
...Buying Poundland marks Steinhoff’s first success in European dealmaking this year, after failing to acquire French retailer Darty and Argos owner Home Retail Group....
...Steinhoff, which has counted New Look owner Christo Wiese as its biggest shareholder since acquiring his Pepkor retail empire in 2014, may enjoy more flexibility....
...Judging the season’s fashions at Marks and Spencer has become something of a national pastime in the UK....
...Marks and Spencer, House of Fraser and Next said they had no plans to introduce a charge for click and collect orders....
...Saunders explains that it was hard to raise money for Green’s first bid for Marks and Spencer in 1999....
...“We don’t see them as competition at all, they’re really small,” says Fitness First’s Mark Hutcheon....
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