The Department of Public Enterprises (DPE) has welcomed the Competition Tribunal’s approval of the Takatso Consortium’s proposed purchase of a 51% shareholding in South African Airways (SAA).
The approval paves the way for the consortium to get involved in the operations of SAA and inject the much needed capital in the struggling national air carrier.
In a statement released on Tuesday night, the department has hailed the decision as a significant step in the government’s efforts to consolidate the re-emergence of SAA as a key strategic asset.
On Tuesday, the Tribunal approved the transaction subject to conditions involving a moratorium on retrenchments and a sale of the stake held by conflicted minority shareholders.
The Department of Public Enterprises Spokesperson, Ellis Mnyandu says, “The approval by the Competition Tribunal also sends a very strong message about the extent of the hard work that has gone into this transaction, considering that SAA was on the brink of liquidation. The steps we have taken will ensure that SAA is returned to profitability and sustainability.”
DPE Welcomes Competition Tribunal’s Approval of Takatso’s Proposed Purchase of 51 PCT Interest in SAA pic.twitter.com/OhXKweS5I6
— DPE_ZA (@DPE_ZA) July 25, 2023
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