May 17, 2017 / 3:31 PM / 2 months ago

Steinhoff says to spin off African retail business

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FRANKFURT, May 17 (Reuters) - South African retail group Steinhoff on Wednesday said it was kicking off a process to separately list its African retail businesses on the Johannesburg stock exchange.

Steinhoff said it would continue to hold a controlling stake in the unit following the listing, which will include a capital increase and be completed in the third quarter of 2017. (Reporting by Christoph Steitz; Editing by Arno Schuetze)

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