REGULATORY
Amsterdam 4 December 2015 – In connection with tax investigations, the
Westerstede offices of Steinhoff Europe Group Services GmbH (SEGS), a German
subsidiary of SIHL, have been searched on November 26, 2015.
The authorities are reviewing the balance sheet treatment of certain
transactions
involving transfers of participations and intangible assets among SEGS,
additional
subsidiaries and third parties pursuant to §331 HGB. The investigation focuses
on
adherence to an arms’ length valuation and proper accounting pursuant to German
GAAP.
SEGS is fully committed to support the authorities, and has begun to take
immediate
steps, in clarifying and resolving these matters.
Steinhoff International Holdings N.V and its management are of the view that on
a
global consolidated basis the above matters have been properly reflected in its
Group accounts according to IFRS.
