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8 months ago
Steinhoff International says not looking to do deals in South America
December 7, 2016 / 9:34 AM / 8 months ago

Steinhoff International says not looking to do deals in South America

A Poundland employee checks products in a store in London, Britain November 10, 2015.Stefan Wermuth/File Photo

JOHANNESBURG (Reuters) - South Africa's Steinhoff International (SNHG.DE)(SNHJ.J) is not looking at M&A deals in South America, the company's chief executive said on Wednesday, responding to a question about a possible acquisition of appliance maker Via Varejo (VVAR3.SA) in Brazil.

"We are not looking at anything in South America," Steinhoff Chief Executive Markus Jooste said during a call with analysts after releasing fourth-quarter results.

Shares in Via Varejo SA soared last month on reports that three suitors, Steinhoff among them, had expressed interest in a controlling stake in the company.

Reporting by TJ Strydom. Editing by Jane Merriman

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