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Government details potential of SAA deal
South Africa’s government has retained special voting rights in the country’s national carrier even after selling a majority stake, and will be given R3 billion ($186 million) in preference shares that can be redeemed through future cashflow.
That means the state stands to benefit should new owner, the Takatso Consortium, revive a carrier that’s struggled under years of heavy losses, corruption and mismanagement, according to a statement from the Department of Public Enterprises on Thursday.
[Bloomberg]
South Africa’s government has retained special voting rights in the country’s national carrier even after selling a majority stake, and will be given R3 billion ($186 million) in preference shares that can be redeemed through future cashflow.
That means the state stands to benefit should new owner, the Takatso Consortium, revive a carrier that’s struggled under years of heavy losses, corruption and mismanagement, according to a statement from the Department of Public Enterprises on Thursday.
[Bloomberg]
