South Africa: Competition Tribunal Approves Takatso Aviation's Majority Stake In National Carrier

Harare — The Competition Tribunal has accepted Takatso Aviation's proposed acquisition of a 51% holding in South African Airways , but with restrictions, including a ban on layoffs and the sale of minority shareholders' shares, EWNThe choice has put Takatso and the department on track to complete the regulatory framework required to pump U.S.$169 million into the struggling airline.

DPE and the Takatso Consortium inked a purchase deal in February 2022, which sparked controversy. Takatso's investment, according to DPE, will aid SAA in growing its fleet and route network.in 2011 and recorded cumulative financial losses of U.S.$122 million between 2012 and 2017. From 2008 to 2020, the airline received taxpayer-funded bailouts of U.S.$224 million.

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DPE nods to Competition Tribunal's approval of Takatso's 51% acquisition of SAAThe Competition Tribunal approved the transaction with conditions, including that the airline needn't retrench staff as well as that the minority shareholders in Takatso divest from the company.
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Competition watchdog approves SAA, Takatso deal - but bars minority shareholders, retrenchments | BusinessThe Competition Tribunal has approved Takatso Aviation's proposed acquisition of a 51% stake in the South African Airways, but given conditions, including a moratorium on retrenchments, as well as a sale of the stake of minority shareholders.
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