
SARB and Ibex Holdings reach settlement ending R6.3bn forfeiture dispute
The settlement agreement lifts restrictions on Ibex’s Pepkor shares, enabling the group to drastically reduce its stake.
The settlement agreement lifts restrictions on Ibex’s Pepkor shares, enabling the group to drastically reduce its stake.
Five investors sought to recover their money, but the High Court ruled their funds were part of an illegal operation and must be forfeited to the state.
The SARB plans to continue enforcement action against Ibex Holdings, formerly Steinhoff, and other parties but may consider a settlement to resolve the matter.
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