Professional investors can review published thought leadership and market updates from the Argonaut Investment Team.

1 post found for December 2017

‘Stinky Steinhoff and the Secret Sauce of Stellenbosch’

Steinhoff International, a major global retail conglomerate, based in Stellenbosch, South Africa but with its main listing in Germany, is in trouble. On Wednesday 6th December, CEO and major shareholder, Markus Jooste, resigned amid accounting irregularities, ongoing litigation and possible criminal charges, replaced by his Afrikaaner friend and Steinhoff’s biggest shareholder Christo Wiese[1]. Over the week the company has lost 90% of its previous €14bn[2] market capitalisation with the share price…