South African Airways majority stake sold off to private consortium

Jan

Who's the Boss?
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South African Airways majority stake sold off to private consortium

South Africa agreed to sell a majority stake in the country’s grounded national carrier to a local jet-leasing company and private-equity firm, ridding the government of an entity that has long been a drain on state finances.

A consortium comprised of Johannesburg-based Global Airways, which owns recently launched domestic airline Lift, and private-equity firm Harith General Partners will take a 51% shareholding in South African Airways, Public Enterprises Minister Pravin Gordhan said on Friday. The government will retain a minority stake.

The grouping named Takatso will invest as much as 3.5 billion rand ($257 million) over the next three years, Lift co-founder Gidon Novick and Harith Chief Executive Officer Tshepo Mahloele said in an interview.

“Government will have no further financial obligations to the company, outside of the existing liabilities that they will settle,” Novick said. “Route networks we are still working on, and it will be a phased rollout based on demand re-emerging post Covid.”
 

BeerIsNotGood...

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South African Airways majority stake sold off to private consortium

South Africa agreed to sell a majority stake in the country’s grounded national carrier to a local jet-leasing company and private-equity firm, ridding the government of an entity that has long been a drain on state finances.

A consortium comprised of Johannesburg-based Global Airways, which owns recently launched domestic airline Lift, and private-equity firm Harith General Partners will take a 51% shareholding in South African Airways, Public Enterprises Minister Pravin Gordhan said on Friday. The government will retain a minority stake.

The grouping named Takatso will invest as much as 3.5 billion rand ($257 million) over the next three years, Lift co-founder Gidon Novick and Harith Chief Executive Officer Tshepo Mahloele said in an interview.

“Government will have no further financial obligations to the company, outside of the existing liabilities that they will settle,” Novick said. “Route networks we are still working on, and it will be a phased rollout based on demand re-emerging post Covid.”
51% :ROFL:
 

Hemi300c

Honorary Master
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Dec 15, 2009
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Harith is just a fund manager for investments.

I wonder who the actual buyer is........
 

Rocket-Boy

Executive Member
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Jul 31, 2007
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EWC applies to all property, not just land.
Along with everything else according to the intellectual property bills.
Technically the ANC wants to own everything, right down to your thoughts.
 

Sarg3_ZN

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May 17, 2010
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1,861
Once the plane "lands" it can be expropriated, or they might amend the EWC laws to include airspace above said land
 

yebocan

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Sep 22, 2005
Messages
12,086
so we have gone from : No one will buy SAA, when GP and Gov were looking for equity partners. Now that someone/consortium has bought a majority stake ... now talking points are shifting, predictable ... been a good week, Eskom now SAA =may not be where we suppose to be , but we are on our way....
 
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