Steinhoff Improves Offer to Legal Claimants by Almost a Third

Steinhoff International Holdings NV improved the terms of its proposal to resolve more than $8 billion of legal claims, the latest effort to move on from an accounting scandal that erupted more than three and a half years ago.

The South African retailers will now offer 679 million euros ($801 million) to former investors suing to compensate after their shares collapsed in value, according to a statement Friday. That represents a 28% increase on the sum calculated a year ago.

The owner of Mattress Firm in the U.S. and a stake in newly listed European retailer Pepco Group NV was ...