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CHRISTO WIESE NEWS ON FASTMOVING

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Billionaire Christo Wiese cuts Shoprite stake to free up about R3.8bn

Billionaire Christo Wiese cuts Shoprite stake to free up about R3.8bn

27/06/2018 - 11:42
South African billionaire Christo Wiese will reduce his stake in Africa’s biggest supermarket chain by about R3.8bn as the businessman most stung by the near collapse of Steinhoff boosts his liquidity.  read more
New Look plans store closures and layoffs

New Look plans store closures and layoffs

08/03/2018 - 11:43
British fashion retail chain New Look has sought approval from its creditors to cut 980 staff and close more than 60 stores after performing poorly as it seeks to amend the terms of its debt. read more
Wiese sees ray of light after losing billions on Steinhoff

Wiese sees ray of light after losing billions on Steinhoff

28/02/2018 - 09:17
Christo Wiese lost more than $2 billion when Steinhoff International Holdings NV plunged following the discovery of accounting irregularities. Luckily for him, he’s still the biggest investor in Shoprite Holdings Ltd., an African supermarket giant whose shares are at a record high. read more
Wiese cuts stake in Steinhoff

Wiese cuts stake in Steinhoff

12/02/2018 - 11:07
Christo Wiese, the former chairman of Steinhoff International Holdings NV, has slashed his stake in the retailer to 6.2%, a move that may mean one of South Africa’s richest men is no longer the company’s biggest shareholder. read more
Whitey stands by Christo Wiese

Whitey stands by Christo Wiese

17/01/2018 - 14:47
Former Shoprite Holdings CEO Whitey Basson says he vouches for the honesty of his friend and fellow Shoprite shareholder of many years, former Steinhoff chairman Christo Wiese, and will assist the collapsed furniture, apparel and home products retailer if he can. read more
Steinhoff races to avoid cash crunch at subsidiaries

Steinhoff races to avoid cash crunch at subsidiaries

10/01/2018 - 13:27
South African furniture retailer Steinhoff is racing to plug a €200m funding gap in the next few days to avoid a small unit such as Austrian Kika-Leiner pulling down the entire group, sources close to the negotiations said. read more
Reshuffle of Steinhoff’s management board sees three new appointments

Reshuffle of Steinhoff’s management board sees three new appointments

20/12/2017 - 09:36
Steinhoff International promoted its chief operating officer, Danie van der Merwe, to acting CEO on Tuesday. read more
Christo Wiese steps down as Steinhoff chairman

Christo Wiese steps down as Steinhoff chairman

15/12/2017 - 11:46
Steinhoff International chairman and largest shareholder, billionaire Christo Wiese, is stepping down from the supervisory board following the accounting scandal that has engulfed the retail giant. read more
Steinhoff reveals accounting errors going back to 2016

Steinhoff reveals accounting errors going back to 2016

14/12/2017 - 16:45
Steinhoff International Holdings has revealed that its accounting errors stretch back into 2016, highlighting the extent of wrongdoing at the clothing and furniture retailer that’s led to an unprecedented stock slump over the last week. read more
Reputation and corporate bottom line: Steinhoff as a case study

Reputation and corporate bottom line: Steinhoff as a case study

12/12/2017 - 11:17
Even though Christo Wiese has taken the helm as the interim CEO and is trying to stabilise the ship through the storm, Steinhoff faces the threat of becoming the biggest bankruptcy in South African corporate history. (Business Times, 10 December 2017).  read more
Storm brews as Shoprite investors challenge pay policy

Storm brews as Shoprite investors challenge pay policy

03/11/2017 - 08:56
A hefty 65% of Shoprite’s "outside shareholders" voted against the group’s remuneration policy at the 2017 annual general meeting, but not all of them want to participate in next week’s unprecedented teleconference called to discuss their concerns. read more
New era at Shoprite as Wiese and Steinhoff take full control

New era at Shoprite as Wiese and Steinhoff take full control

06/09/2017 - 13:45
Steinhoff and Christo Wiese are to emerge as the outright controlling shareholders of Shoprite after Shoprite shareholders’ backed the repurchase of 8.7-million shares from former CEO Whitey Basson. read more
Shoprite investors approve R1.7bn repurchase of Whitey Basson’s shares

Shoprite investors approve R1.7bn repurchase of Whitey Basson’s shares

05/09/2017 - 14:43
Shoprite shareholders voted in favour of the purchase of about R1.75bn of shares from former CEO Whitey Basson, enabling Africa’s largest food retailer to buy at a discount to the current share price. read more
Shoprite powers ahead in tough conditions

Shoprite powers ahead in tough conditions

24/08/2017 - 14:55
Shoprite’s result for the financial year to July 2 contained good news for everyone except its competitors. For management and shareholders, the good news included a 12% rise in diluted headline earnings and a 11.5% increase in dividends. read more
Steinhoff calls off negotiations with Shoprite over merger

Steinhoff calls off negotiations with Shoprite over merger

21/02/2017 - 08:53
Shoprite’s share price jumped 7% and Steinhoff’s 6% after the retailers called off their proposed merger. read more
Billionaire Wiese’s long walk to Shoprite/Steinhoff merger

Billionaire Wiese’s long walk to Shoprite/Steinhoff merger

13/02/2017 - 08:48
Johannesburg - Christo Wiese, South Africa’s fourth-richest person with a fortune of about R76.26bn, is at the centre of plans to create the continent’s largest retailer by combining the African operations of Shoprite and Steinhoff. read more
Steinhoff-Shoprite deal no easy sell

Steinhoff-Shoprite deal no easy sell

01/02/2017 - 10:04
Renewed cautionary suggests Christo Wiese is having difficulty persuading the main minority shareholders of the benefits read more
Market sells on tie-up news as Shoprite takes bigger hit

Market sells on tie-up news as Shoprite takes bigger hit

12/01/2017 - 08:27
The deal is to be priced slightly in favour of Steinhoff, share prices suggest read more
Christo Wiese has no regrets even after Brexit burn

Christo Wiese has no regrets even after Brexit burn

09/12/2016 - 11:59
Johannesburg/London — South African billionaire Christo Wiese navigated the upheavals of apartheid and the creation of a free nation over more than five decades to build a $6bn personal fortune. read more
 Steinhoff agrees to buy UK discount store Poundland for R11.4bn

Steinhoff agrees to buy UK discount store Poundland for R11.4bn

13/07/2016 - 11:41
Cape Town – Steinhoff has agreed to buy UK discount store Poundland for £597m (R11.4bn), the South African-bred business announced on Wednesday. read more
Christo Wiese declares himself an Africa optimist

Christo Wiese declares himself an Africa optimist

06/07/2016 - 10:37
CHRISTO Wiese, SA’s richest man and the chairman of the nation’s biggest retailer Shoprite, has some advice for companies looking to tap the spending power of Africa’s 1.2-billion consumers: stick around and have deep pockets.  read more
Billionaire Wiese’s UK chains ready for either Brexit outcome

Billionaire Wiese’s UK chains ready for either Brexit outcome

14/06/2016 - 17:04
Johannesburg - British retailers New Look and Iceland Foods and the Virgin Active gym-club chain are prepared for either outcome when the country votes on whether to remain in the European Union next week, according to the head of their South African owner. read more
Shoprite posts higher profit, but CEO warns about economy’s woes

Shoprite posts higher profit, but CEO warns about economy’s woes

24/02/2016 - 10:52
Whitey Basson, CEO of Africa’s largest grocer, Shoprite, on Tuesday (23 Feb) took aim at the government for what he said was its neglect of the basics, such as job creation, crime, and education. read more
Tradehold’s Mettle Solar acquires 50% stake in SPS

Tradehold’s Mettle Solar acquires 50% stake in SPS

22/02/2016 - 14:39
Mettle Solar, part of retailer Christo Wiese’s Tradehold property group, has acquired a 50% stake in Sustainable Power Solutions (SPS), a leading engineering and construction firm that specialises in the design, installation and operation of solar photovoltaic (PV) roof- and ground-mounted systems. The price paid was not disclosed. read more
Double honours for billionaire Christo Wiese

Double honours for billionaire Christo Wiese

29/10/2015 - 10:20
Cape Town - Billionaire businessperson Dr Christo Wiese has been honoured as the Sunday Times Business Leader of the Year, but also received the Sunday Times Lifetime Achievement Awards at the annual Sunday Times Top 100 Companies Awards, which took place at a banquet in Sandton on Tuesday evening.  read more
Empire-builder Wiese heads for the High Street

Empire-builder Wiese heads for the High Street

06/01/2015 - 12:20
Not content with nailing down the largest takeover in South African corporate history, 71-year-old retail magnate Christo Wiese has now set his sights on expanding his empire in Britain’s retail market. read more
Wiese, others bought shares before R68bn deal

Wiese, others bought shares before R68bn deal

01/12/2014 - 10:19
Johannesburg - Directors in Steinhoff International [JSE:SHF] bought shares in the company shortly before its R68.2bn ($5.7bn) purchase of clothing retailer Pepkor, regulatory filings show. read more
SA’s post-1994 miracle now ‘under threat’

SA’s post-1994 miracle now ‘under threat’

03/10/2014 - 10:37
The "remarkable" progress of SA’s first two post-apartheid administrations is coming under serious threat; Woolworths’ chairperson Simon Susman said in the group’s integrated annual report, released on Tuesday. read more
Pepkor UK seen as step towards retail acquisition

Pepkor UK seen as step towards retail acquisition

17/06/2014 - 13:40
Christo Wiese has set up a shell company in the UK, triggering speculation that the retail tycoon is inching closer to an acquisition in the country’s clothing market. read more
Wiese sells Lanzerac to foreigners

Wiese sells Lanzerac to foreigners

12/03/2012 - 07:47
Johannesburg - Shoprite Holdings [JSE:SHP] chairperson Christo Wiese has sold his wine estate Lanzerac outside Stellenbosch to a foreign buyer for an undisclosed amount. read more