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They started talking to me
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Steinheist

They started talking to me about the possibility ofmerging the companies. It would be a...

They started talking to me about the possibility of
merging the companies. It would be a merger between Steinhoff
South African operations and our company

Full Transcript

00:00:01.000 --> 00:00:02.918
They started talking to me
00:00:02.919 --> 00:00:05.438
about the possibility of merging the companies.
00:00:05.439 --> 00:00:10.599
It would be a merger between Steinhoff South African operations and our company.
Duration
11 seconds
Views
28
Timestamp in Movie
00:23:12
Uploaded
Apr 29, 2025
Season
1
Episode
1
Genres
documentary, crime
Production
IdeaCandy

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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...
S01 • E02 But there was nothing that he did that appeared to upset me. - Steinheist 00:05
But there was nothing that he did that appeared to upset me.
S01 • E01 Bruno Steinhoff was there. I met him. - Steinheist 00:19
Bruno Steinhoff was there. I met him.
S01 • E03 No company wants to have liabilities that negatively affect its bottom line, - Steinheist 00:09
No company wants to have liabilities that negatively affect ...
S01 • E02 But my impression was that it was very difficult for people to challenge him. - Steinheist 00:06
But my impression was that it was very difficult for people ...
S01 • E03 They're called off balance sheet transactions, an accounting loophole - Steinheist 00:10
They're called off balance sheet transactions, an accou...
S01 • E02 I think Markus Jooste was too crass. I think he was too gruff. - Steinheist 00:06
I think Markus Jooste was too crass. I think he was too gruf...
S01 • E01 And we would swap two shares of Steinhoff for one of our shares - Steinheist 00:10
And we would swap two shares of Steinhoff for one of our sha...
S01 • E02 So allegedly, the fact that Markus Jooste did have a mistress in Berdine Odendaal - Steinheist 00:10
So allegedly, the fact that Markus Jooste did have a mistres...
S01 • E03 In the case of Steinhoff, - Steinheist 00:15
In the case of Steinhoff,
S01 • E02 And I think that's a function of the fact that when you fly as high as Jooste did, - Steinheist 00:10
And I think that's a function of the fact that when you...
S01 • E01 We're going to be hearing quite a lot of financial jargon as we go along. - Steinheist 00:06
We're going to be hearing quite a lot of financial jarg...
S01 • E03 Steinhoff decided to sell these companies to a third party to remove this risk. - Steinheist 00:23
Steinhoff decided to sell these companies to a third party t...
S01 • E01 When a company wants to buy assets, it could do so in a few ways. - Steinheist 00:07
When a company wants to buy assets, it could do so in a few ...
S01 • E02 And when those stories started coming out, it was obviously held up - Steinheist 00:14
And when those stories started coming out, it was obviously ...
S01 • E01 It could pay cash, use debt, - Steinheist 00:07
It could pay cash, use debt,
S01 • E01 Those who receive these shares - Steinheist 00:07
Those who receive these shares
S01 • E03 It was a deal that didn't stand up to scrutiny - Steinheist 00:07
It was a deal that didn't stand up to scrutiny
S01 • E01 It's a cheap way of doing business, especially if the share price is high. - Steinheist 00:06
It's a cheap way of doing business, especially if the s...
S01 • E02 I don't want to sound like a goody two shoes, but that's a no-no. - Steinheist 00:07
I don't want to sound like a goody two shoes, but that&...
S01 • E03 At face value, it makes sense to say no one would enter into a transaction - Steinheist 00:11
At face value, it makes sense to say no one would enter into...