Steinhoff International has agreed to include a proposal that would see shareholders receive a fifth of any restructured company, rather than nothing.
The debt-laden international retail group said its creditors were prepared to accept contractual contingent value rights (CVRs) for shareholders, as part of a Dutch restructuring plan for the group. Steinhoff's board did not specify the details of the CVRs but said this would be published “in due course”.
Business Day discussed the details of the restructure with Business Day journalist Katherine Child.
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