PRETORIA - Dr Daniel Matjila told the PIC Inquiry on Tuesday that he was accused of blocking foreign direct investment into the country after he refused to support the Chilean drug-maker CFR Pharmaceuticals's bid to acquire Adcock Ingram in 2014.
The PIC, the state-owned entity with about R2 trillion of assets under management, was at that time Adcock's largest shareholder. "The refusal of the PIC to support the Chilean drug maker CFR Pharmaceuticals from acquiring Adcock Ingram around the fourth quarter was another issue that caused tension between me and the Ministry of Finance. I was accused of blocking foreign direct investments into the country," Matjila said.
But Matjila said that the terms of reference of that review were not shared with anyone and he was just lucky that "someone decided to show him" the terms of reference.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Ireland Ireland Latest News, Ireland Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
#PICInquiry: Matjila defends PIC investments in unlisted portfolios | IOL Business ReportIn his submission to the commission, Holomisa fingered three companies that are directly or indirectly linked to the PIC.
Source: IOL - 🏆 46. / 51 Read more »
PICInquiry: I am prudent with people's money, says Matjila | IOL Business ReportPICInquiry: Former chief executive of PIC Dr Daniel Matjila began his testimony at the PIC commission of inquiry by detailing his long and illustrious career, both in academia and in the private sector finance industry. busrep
Source: IOL - 🏆 46. / 51 Read more »
#PICInquiry: 'Dan Matjila couldn't have acted alone' | IOL Business ReportPICInquiry: The PSA's Tahir Maepa says PIC CEO Dan Matjila couldn't have acted alone in making final investment decisions at the state-owned entity, adding that every member of the PIC board has to account for any alleged wrongdoing. busrep
Source: IOL - 🏆 46. / 51 Read more »
#PICInquiry: Dan Matjila rejects Holomisa's VBS loan allegations | IOL Business ReportPICInquiry: Advocate Alex Roelofse that the claims in Bantu Holomisa’s letter did not gel with a PricewaterhouseCoopers report on a lifestyle audit conducted on Dr Matjila. busrep
Source: IOL - 🏆 46. / 51 Read more »
Bantu Holomisa submits letter to #PICInquiry's Advocate Lubbe | IOL Business ReportPICInquiry: UDM leader Bantu Holomisa has written a letter to the Mpati Commission of Inquiry evidence leader, Advocate Jannie Lubbe, for use on the day that former PIC chief executive, Dan Matjila, provides testimony. busrep
Source: IOL - 🏆 46. / 51 Read more »
British Airways faces record $230m fine over data theft | IOL Business ReportBritish Airways owner IAG is facing a record $230 million fine for the theft of data from 500,000 customers from its website last year.
Source: IOL - 🏆 46. / 51 Read more »