April 30, 2019 / 3:47 PM / 19 days ago

S. Africa's Steinhoff cuts value of goodwill assets in 2017 accounts

April 30 (Reuters) - South African retailer Steinhoff said on Tuesday it had reduced the value of goodwill and intangible assets recorded at the end of September 2017 by 1.8 billion euros ($2.02 billion) to 7.2 billion euros.

Steinhoff is preparing its 2017 and 2018 financial statements after an investigation by a PwC investigation released by the company showed at least $7.4 bln in fraudulent transactions.

$1 = 0.8928 euros Reporting by Justin George Varghese in Bengaluru Editing by Edmund Blair

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