Remember we talked abouthow in the early 2000s Steinhoff wanted to buy forests sothat it...
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Remember we talked about
how in the early 2000s Steinhoff wanted to buy forests so
that it owned the whole value chain? What happens is that Steinhoff
announces it's going to buy the forest and then shortly afterwards decides,
"Actually, we don't want the forests." But luckily enough, a third
company comes out of nowhere a mysterious entity called Fihag
that decides to buy the forest for what ultimately turned
out to be around R11 million
how in the early 2000s Steinhoff wanted to buy forests so
that it owned the whole value chain? What happens is that Steinhoff
announces it's going to buy the forest and then shortly afterwards decides,
"Actually, we don't want the forests." But luckily enough, a third
company comes out of nowhere a mysterious entity called Fihag
that decides to buy the forest for what ultimately turned
out to be around R11 million
Full Transcript
00:00:01.000 --> 00:00:03.559
Remember we talked about
how in the early 2000s
00:00:03.056 --> 00:00:06.008
Steinhoff wanted to buy forests so
that it owned the whole value chain?
00:00:08.004 --> 00:00:11.238
What happens is that Steinhoff
announces it's going to buy the forest
00:00:11.239 --> 00:00:14.199
and then shortly afterwards decides,
"Actually, we don't want the forests."
00:00:15.056 --> 00:00:18.076
But luckily enough, a third
company comes out of nowhere
00:00:18.761 --> 00:00:22.718
a mysterious entity called Fihag
that decides to buy the forest
00:00:22.719 --> 00:00:25.238
for what ultimately turned
out to be around R11 million.
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Movie Summary
The biggest corporate scandal in South African history, the fall of Steinhoff led to a loss of R200 billion. Steinheist untangles the story: the investors who were taken in; the victims and the CEO, Markus Jooste, who's still a fr...
