Steinhoff Austrian Unit Kika/Leiner Secures Money for Up to 24 Months -Reuters

01/29/18 06:31 AM EST

--Steinhoff's Austrian unit Kika/Leiner has secured enough money to keep going for up to 24 months, its managing director Gunnar George said, Reuters reports.

--"We intensively negotiated with our parent company in South Africa in the past weeks," Gunnar George said at a news conference in Vienna, according to Reuters. "We found a solution that secures us liquidity for the next 12 to 24 months."

--Shares in Steinhoff tumbled in December after it disclosed accounting irregularities in its 2017 results and said it will have to restate its 2016 financial accounts, Reuters reports.


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January 29, 2018 06:31 ET (11:31 GMT)

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