Steinhoff - outcome of the PWC fraud investigation

All,

Steinhoff have published the outcome of the PWC fraud investigation today.

Below is an impressive table of fictitious trades with mostly parties related to Sigmar Schmidt, Jean Noel Pasquier and Jooste and co.

More importantly however, the report concentrates the wrong doing with a small number of individuals and does not point to wider misconduct that would now derail the restructuring of the company. 

So it's clearly very positive, if mostly priced in by now.

Click here for our analysis of the waterfall of Steinhoff.

Wolfgang