Scandal-hit Steinhoff sells unit of Australasian subsidiary to Allegro Funds

Scandal-hit Steinhoff sells unit of Australasian subsidiary to Allegro Funds

Photo by Priscilla Du Preez on Unsplash

Greenlit Brands, the Australasian subsidiary of scandal-hit South African firm Steinhoff International, has sold its general merchandise business to Australia-based fund manager Allegro Funds for an undisclosed sum, the company announced on Monday.