Steinhoff Africa Retail on name change to Pepkor (and fight with Tekkie Town)

(Also read: Steinhoff paid us with Monopoly money, says ill-sounding Tekkie Town founder)

It was his decision to terminate his employment contract… I don’t want to get into a media debate with Braam… I’m not sure what his agenda is with the bombs he’s throwing at Star… There are no claims, we feel, he has against Star…

Jayendra Naidoo, Steinhoff Africa Retail

Star owns Tekkie Town. It’s doing well for Star… We’ve paid good money for it.

Jayendra Naidoo, Steinhoff Africa Retail

BusinessDay on Monday reported that Steinhoff Africa Retail (Star) has approached Johann Rupert’s Remgro as potential investor.

People familiar with the matter say it is unlikely that Remgro will invest.

In an effort to distance itself from its scandal-ridden parent; Star will revert to the name “Pepkor Holdings”.

Star confirmed on Monday that it received notice of a claim lodged by the founders and original shareholders of Tekkie Town.

The Money Show’s Bruce Whitfield interviewed Jayendra Naidoo, Chairperson at Steinhoff Africa Retail.

Listen to the interview in the audio below (and/or scroll down for more quotes from it).

They [Steinhoff] are down to 71% [shareholding]…

Jayendra Naidoo, Steinhoff Africa Retail

Pepkor is a name with great history. We’re very comfortable…

Jayendra Naidoo, Steinhoff Africa Retail

I have no knowledge of any plans [of Steinhoff to sell its shares in Star]…

Jayendra Naidoo, Steinhoff Africa Retail

The management of Steinhoff Africa Retail is dedicated to getting the best deals for their customers… an awesome culture of delivering value…

Jayendra Naidoo, Steinhoff Africa Retail

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This article first appeared on 702 : Steinhoff Africa Retail on name change to Pepkor (and fight with Tekkie Town)


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