April 26, 2018 / 8:03 AM / a month ago

BRIEF-Steinhoff Settles German Litigation With Seifert Entities

April 26 (Reuters) - Steinhoff International Holdings Nv :

* SETTLEMENT OF GERMAN LITIGATION WITH SEIFERT ENTITIES

* AT HEARING, PARTIES AGREED, IN PRINCIPLE, TO SETTLE MATTER ON ACCEPTABLE TERMS.

* GROUP WOULD NO LONGER CONTEST VALIDITY OF FORFEITURE OF SEIFERT ENTITIES’ EXISTING 50% INTEREST IN POCO

* POCO BUSINESS WILL RETAIN DEBT OF APPROXIMATELY EUR 140 MILLION, WITH NO RECOURSE TO GROUP

* SEIFERT ENTITIES OFFERED TO ACQUIRE GROUP’S REMAINING INTEREST IN POCO BASED ON AGREED EQUITY VALUATION OF EUR 532.5 MILLION FOR 100% OF EQUITY Source text for Eikon: Further company coverage:

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