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Steinhoff


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#4101 Tom

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Posted 30 November 2018 - 05:47 PM

big buy orders 5 mil shares at 1.78

Looks like it was to buy the big sell order that they noticed  at day lowest price.


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#4102 DayTraderDad

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Posted 30 November 2018 - 05:39 PM

Yes something has leaked and we as investor will be the last ones to know!!!

big buy orders 5 mil shares at 1.78


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#4103 DayTraderDad

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Posted 30 November 2018 - 05:37 PM

Any reason for the big sale?

Yes something has leaked and we as investor will be the last ones to know!!!


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#4104 Tom

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Posted 30 November 2018 - 05:19 PM

Any reason for the big sale?


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#4105 DayTraderDad

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Posted 30 November 2018 - 04:11 PM

Pepkor has paid all its group internal debt back to SNH, but most other subsidiaries do carry internal group debt back to Steinhoff, so Steinhoff also have the option to offer any entity a share (say 49%) in those subsidiaries in exchange for them to carry the burden of paying 49% of the debt due back to Steinhoff, so Steinhoff becomes the creditor (not the debtor), (so half of the debt is outsourced),  they have done this already in Mattress Firm case.

I do think it's always a good idea to sell any business they have should they get a good price for it (but not for a bad price).

Well said Tom I agree


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#4106 Tom

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Posted 30 November 2018 - 04:00 PM

Yes that sounds good but SNH will have to reduce the debt it cannot service all that debt at 10% interest.

Pepkor has paid all its group internal debt back to SNH, but most other subsidiaries do carry internal group debt back to Steinhoff, so Steinhoff also have the option to offer any entity a share (say 49%) in those subsidiaries in exchange for them to carry the burden of paying 49% of the debt due back to Steinhoff, so Steinhoff becomes the creditor (not the debtor), (so half of the debt is outsourced),  they have done this already in Mattress Firm case.

I do think it's always a good idea to sell any business they have should they get a good price for it (but not for a bad price).


Edited by Tom, 30 November 2018 - 04:04 PM.

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#4107 Bubble

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Posted 30 November 2018 - 03:51 PM

According to the last statement from the CEO of Pepkor Naido that Steinhoff might not be selling more assets in order to reduce the debt, and might be considering to just continue with it's business operations and also expanding, while servicing the debt.

I think he referred to SNH not being able to sell the +-71% shareholding in Pepkor, other asset sales is still ongoing.


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#4108 DayTraderDad

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Posted 30 November 2018 - 03:41 PM

According to the last statement from the CEO of Pepkor Naido that Steinhoff might not be selling more assets in order to reduce the debt, and might be considering to just continue with it's business operations and also expanding, while servicing the debt.

Yes that sounds good but SNH will have to reduce the debt it cannot service all that debt at 10% interest.


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#4109 Tom

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Posted 30 November 2018 - 03:03 PM

According to the last statement from the CEO of Pepkor Naido that Steinhoff might not be selling more assets in order to reduce the debt, and might be considering to just continue with it's business operations and also expanding, while servicing the debt.


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#4110 DayTraderDad

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Posted 30 November 2018 - 02:33 PM

According to H1FY2017 book value of the Automotive was EUR475 mil so if they can sell for more it will help offset the impairment for the sale of the MF 49.9%.;

My thought in the final debt restructuring after a couple of green beers. Hahaha

Initial debt                                                                         9300    Excluding SA debt
POCO Debt takeover                                                         -140    Concluded
POCO – Moneys to receive from sale 50%                        -271    Concluded
Sale of Kika Leiner                                                            -590    Concluded
Sale of Matress Firm 49,9%                                              -525    Concluded
Recovery from Wieser advance to buy SHP                     -350    Concluded
Sale of Hemisphere – Should be the next step                 -324    Remaining  with PropCos rental income – EUR 29.6 mil
Sale of Conforama properties – In the news                    -850    In news prop sale 850
Sale of Automotive business                                            -617    Book value 475 but bought new business
SEAG Debt taken by  PEPCO, Greenlit and Conforama  -1478   
Sale of KAAP shares                                                         -360    At today’s market value
Sale 49.9% of PEPCO and Greenlit & Conforama          -3,795    Half of turnover. There is news SNH looking for interest in PEPCO
Other debt                                                                             0   
DEBT of SNH to be carried after restructuring                      0   

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#4111 DayTraderDad

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Posted 30 November 2018 - 01:55 PM

Great going to be a very good December!

According to H1FY2017 book value of the Automotive was EUR475 mil so if they can sell for more it will help offset the impairment for the sale of the MF 49.9%.;


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#4112 DayTraderDad

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Posted 30 November 2018 - 01:46 PM

Consider it highly likely...

Great going to be a very good December!


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#4113 Bubble

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Posted 30 November 2018 - 01:06 PM

This would be very good news because turnover is  EUR766 for the H1 FY18 and with luck maybe they can get 1 x turnover for it which would be EUR1.5 bil

Consider it highly likely...


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#4114 DayTraderDad

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Posted 30 November 2018 - 12:56 PM

That would be good news for me its not core business best sell it the same as the automotive business but remember Unitrass is also part of Greenlit Brands in Aussie.

This would be very good news because turnover is  EUR766 for the H1 FY18 and with luck maybe they can get 1 x turnover for it which would be EUR1.5 bil


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#4115 Lionelza1

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Posted 30 November 2018 - 12:48 PM

Lol keep licking leo... I doubt it will come
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#4116 DayTraderDad

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Posted 30 November 2018 - 12:04 PM

  attachicon.gifCapture.PNG

 

Not looking good, drop in the bonds - 1 Week anlysis

I think there are investors in bonds that maybe want out


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#4117 DayTraderDad

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Posted 30 November 2018 - 12:02 PM

Dad, what would your view be if I were to say they selling Unitrans in total? 

That would be good news for me its not core business best sell it the same as the automotive business but remember Unitrass is also part of Greenlit Brands in Aussie.


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#4118 leo

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Posted 30 November 2018 - 11:54 AM

Waiting for that pwc report....licking my greedy little paws
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#4119 Bubble

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Posted 30 November 2018 - 10:37 AM

Leo very good information. My difference to your evaluation is that I believe that SNH Europe going to breakup into MF ( already done it was listed before), PEPCOR EUROPE will be listed or a 49.9% share holding will be sold for debts, Greenlit Brands will be listed there is already talk of a IPO and again 49.9% will be sold, Conforama will also be listed or 49.9% sold (There was talk that Muebles Boom took a considerable position in SNH because they want to increase their footprint from Spain to Europe) and the debt will be distributed to each company. After that I expect SNH will be left with a debt of about EUR2 bil that would be paid/exchanged for shares in PPH to bring SNH holding of PPH to 50.1% and KAP. After all that SNH still has control of all companies but no debt or very little. I cannot see SNH keeping the debt paying 10% interest so it has to sell assets and this way is the only option of keeping the company together. So what would be then the share price of SNH with no or little debt with a EBITDA of EUR900 mil?

Dad, what would your view be if I were to say they selling Unitrans in total? 


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#4120 leo

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Posted 30 November 2018 - 09:15 AM

  Attached File  Capture.PNG   50.24KB   3 downloads

 

Not looking good, drop in the bonds - 1 Week anlysis


Edited by leo, 30 November 2018 - 09:15 AM.

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