PIC taking legal action to force Steinhoff to release forensic report

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The Public Investment Corporation (PIC) is filing a court application to force Steinhoff to release the PwC forensic report it has withheld on the grounds of confidentiality.

The corporation, which acts as asset manager of the Government Employees Pension Fund and other statutory funds, has an exposure of about R24bn due to the collapse of the Steinhoff share price in December 2017 after revelations of financial irregularities allegedly perpetrated by former CEO Markus Jooste...

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