In an update to shareholders, Steinhoff said that"the suspension will grant Steinhoff time to continue the ongoing restructuring of its business, make further progress with the internal investigations and finalise its 2017 and 2018 financial statements".
"VEB/European Investors agreed to the extension because it further supports the stabilisation of the company, which is in the interests of both the current and former shareholders of Steinhoff.""After the suspension, VEB/European Investors and Steinhoff are both free to continue the legal proceedings or to reach a settlement for affected shareholders through negotiations," said Steinhoff.
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