Steinhoff - comment

The company announced the sale of 38m shares in Pepco this morning, which were placed at PLN 38.95 per share. Following the transaction, Steinhoff still hold 72.3% of Pepco. The resulting cash of €315.2m raised in the transaction should help plug the gap in the refinancing of the SEAG A1s / B1s, underlining our confidence in the success of the ongoing restructuring.