Steinhoff plans to list shares of European unit

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Frankfurt - South African furniture and household goods maker Steinhoff plans a stock market listing for its European unit this year, German weekly magazine WirtschaftsWoche reported on Saturday, citing financial sources.

It said Steinhoff was considering an initial public offering in Frankfurt in the European autumn, with proceeds from the listing to be used to pay down debts and fund expansion.

A Steinhoff spokesman could not be immediately reached for comment.

The South African firm is one of the biggest home furnishing players in Europe, where its owns several retailers including France's Conforama and Britain's Harveys. - Reuters


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