Wiese Sells More Shoprite Stock as Steinhoff Extends Plunge
- Steinhoff share slide brings December decline to 93 percent
- Barclays Africa unit plans to liquidate Jooste-linked company
Steinhoff Appoints Interim CEO Amid Accounting Scandal
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Steinhoff International Holdings NV’s biggest shareholder, Christo Wiese, increased the amount he has raised from selling shares in food retailer Shoprite Holdings Ltd. to 3.3 billion rand ($259 million) as his net worth continues to slide amid an accounting scandal.
Wiese’s liquidation of assets comes as Steinhoff’s stock extended its drop this month to 93 percent, fueled by the resignation of Chief Executive Officer Markus Jooste after auditors refused to sign-off on the furniture and clothing company’s 2017 earnings.