November 15, 2019 / 11:14 AM / 3 months ago

Steinhoff sells Blue Group to Alteri Investors

JOHANNESBURG, Nov 15 (Reuters) - Scandal-hit South African retailer Steinhoff International said on Friday that it had sold Blue Group, owner of Bensons for Beds, Harveys Furniture and associated manufacturing companies, to Alteri Investors.

“The sale of Blue Group is the latest in a series of planned divestments by Steinhoff as we continue with our announced strategy of simplifying the group’s portfolio and deleveraging our balance sheet,” Steinhoff CEO Louis du Preez said.

Steinhoff’s statement did not provide a value for the transaction. (Reporting by Emma Rumney; editing by Jason Neely)

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